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Fares on Singapore's taxis are considered relatively affordable, [4] and are thus a popular form of transportation in Singapore, particularly for the middle income groups. Taxi fares were regulated by the Public Transport Council until September 1998 to allow operators full freedom in setting their own fares in a bid to introduce greater ...
Fares can be paid via stored value travel cards (e.g. EZ-Link), bank cards (e.g. credit/debit cards, mobile wallets), or tourist passes. [20] The ticketing system is developed based on the Contactless e-Purse Application standard. The Symphony for e-payment (SeP) is the backend processing and clearing system for public transit. [21]
A study by London consulting firm Credo further highlights the cost-efficiency of Singapore's public transport networks, [2] with integrated multi-modal (bus and train) single-journey regular trunk adult card-based fares ranging from S$0.99 to S$2.26. The Monthly Travel Pass, offering unlimited bus and train rides, is set at S$128 per month. [3]
Fares were raised by 4.3% which took effect on 29 December 2018. [14] [15] 28 December 2019 7.0% Fare increase is the highest percentage jump since 1998, caused by increasing energy costs. [16] 26 December 2021 2.2% The increase is driven by soaring energy costs and a drop in ridership due to COVID-19 pandemic. [17] [18] 26 December 2022 2.6%
Cabcharge accounts – customers can create a line of credit for use to pay for taxi fares and related charges, and involves the use of a Cabcharge credit card, e-ticket or paper voucher. The value of taxi fares paid using such instruments in Australia in 2007/08 was over A$455 million. Cabcharge levies a 10% service fee on such payments.
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New service providers must obtain a certificate of registration before they can operate in Singapore. [2] Taxi-booking fees charged by service providers cannot exceed those charged by taxi companies. Taxi-booking service providers that violate the regulatory framework may be liable to penalties of up to $100,000 per contravention. [3]
The review of distance-based fare rules on MRT lines was completed, and a waiver on the second boarding fee incurred when making such transfers was announced on 22 March 2018. The scheme was implemented on 29 December of the same year.
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