The application of pre-paid cash card for consumers

9:09 PM Jian Zhong

In this global technology world, Pre-paid Cash Card is highly demanded by the consumers who prefer to conduct financial transactions with high security, convenience, & speed. It is a payment tool that requires consumers to load the card with a sum of money before it can be used to make payment for goods & services.




Why Pre-paid Cash Cards are used?

(1) Avoid debts incurred
(2) Easy to carry
(3) High security
(4) Reduce transaction time
(5) Free balanced alerts



Pre-paid Cash Cards can be used for following purposes:

  • Online Shopping
  • Paying bills through online or over the phone
  • Reserving rooms in hotel
  • Topping up mobile phone
  • Toll Payment in highways
  • Withdrawing cash from an ATM





    • “Touch n Go”

    Touch n Go Card is an example of pre-paid cash card used in Malaysia. It facilitates users to pass by the toll through scanning the card in a short distance away from the scanner. Touch n Go card saves the users’ time and it can be used anywhere at Malaysia highway.



    Conclusion:

    Pre-paid cash cards can be used to conduct varieties of trading activities. It is not only providing easy payment for consumers, but also contributing the success factors in the use of transactions. The increased in percentage of pre-paid cash cards users in recent years’ trend proved that pre-paid cash cards becoming highly reliable & demanded.


    For further information, please refer to following websites:

  • Prepaid Cash Card - Patent 5621787
  • Daily Star Cash Card Prepaid Master Card
  • Prepaid Cards , MasterCard
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    Credit Card debts: Causes and Prevention

    11:03 PM Anonymous
    Having credit card is very common nowadays. Credit card is convenient and useful if we use it properly. However, if abuse, credit card can be the start of a years-long nightmare and unbelievable stress. Those who are relying on the credit card too much will be in debt. This is because every time when they are using credit card, they are actually borrowing the money from the credit card issuer. Therefore, they are increasing their credit card debts.

    Never fully repay the total sum of debts
    Many credit card users only pay for the interest and a small amount of principal when the debt is due. They will never fully repay the total sum of debts. Hence, debts accumulate an increase via the interest.



    Poor money management skills
    People have poor money management skills. They are unaware to conduct a monthly spending plan and do not keep track of monthly bills. They will spend as much as they get and consequently lead to a rise in credit card debts.


    Unemployment

    When people are unemployed, they do not have income to spend. Therefore, they will use credit card to cover their basic living expenses but at the end, they are unable to pay back the expenses.



    Inflation
    The prices of goods and sevices are going up but the amout of income is still the same. Thus, people are forced to spend beyond their earnings. Consequently, they will use credit cards to purchase the goods and services and then unable to pay back the expenses.



    Budgeting
    People have to make a clear budget and stick on it in order to prevent from overspending and fall under deeper debt load.


    Establish good credit card spending habits

    Every credit card offers interest-free period. If possible, people are encouranged to settle all the payment before the period ends in order to avoid interest charged and stay out of debt.


    Never use lots of credit cards at the same time

    Use just one or two cards only. Remember that credit card is not the same as free money. The lesser cards you are holding, the less probability for debts.

    Using cash for payment if possible
    Use debit cards or pay by cash. Both of these paying method will reduce the risk to incur in credit card debts.




    In conclusion, prevention is better than cure. Be smart when using the credit cards.



    ~For more information, please visit to these websites:
    http://www.mozdex.com/prevent-credit-card-debt/
    http://ezinearticles.com/?Why-Credit-Card-Abuse-Causes-So-Much-Debt&id=1018899

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    Electronic Currency

    9:26 PM Jian Zhong
    E-Currency:

    Electronic Currency is the virtual money that can be used through online or exchanged electronically. Generally, it is known as electronic money that involves in the use of internet, computer network, & digital stored value system. In this modern technology world, electronic payment is highly demanded as it provides high level of convenience and validity.


    E-Gold:

    E-Gold is one of the most common examples of e-currency. It is integrated into an account based payment system that enables users to trade by using gold as money. Besides, e-gold facilitates the instant transfer of gold ownership between users & can be used exclusively in the Online Auction or Micropayment market.


    E-Currency consists of different subsets which stated as below:

    Pappercoin
    Digicash
    Payloadz
    PayStone
    Firstgate Click & Buy




    ~ Advantages of Electronic Currency:

  • Low transaction cost
  • Opportunity to trade for profits
  • Leverage can be used to increase risk reward
  • Everyone can conduct electronic currency





    • ~ Future Evolution of Electronic Currency:

  • To be used it through a wider range of hardware such as credit cards
  • Link bank accounts that would generally be used over an internet
  • Enable the currency exchange with a secure micropayment system



    • ~ Conclusion:

    As a conclusion, there are various types of electronic currency tools that available for users to use for online transactions through online. From our point of view, we think that different methods of these tools contain its benefits & able to facilitate the transactions between online sellers & buyers. Therefore, users are strongly encouraged to conduct their prefer business activities by using any of the above methods.


    ~ Suggested Materials:

  • E-Gold
  • Digital Cash
  • Electronic Currency Trading
  • Electronic Currency Derivatives: Prospects For The Future

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    Mobile payment systems in Malaysia: Its potentials and consumers' adoption strategies.

    11:28 AM Lee Chin Han

    YoYo…New generation’s environment!!!

    Nowadays, telecommunications industry is experiencing rapid growth on a global scale. One of the greatest growth areas is “Mobile Telecommunications”. Mobile telecommunication is a technology that allows the users to be connected by using the mobile devices. For example, using mobile phone services such as Mobile Payment Systems will make life easier for everyone!

    What are mobile payment systems?
    Mobile payment systems have been developed to facilitate purchasing of products, services, and content in mobile and electronic commerce and at physical points of sale. For example, mobile payment allows you to make payments to selected merchants by using your mobile phones.

    Mobile banking, mobile money transfer, mobile trading, mobile commerce, advertising and marketing, location based advertising and mapping services, and information and news services are some of the areas to lead significant growth in the mobile payments market.




    Which companies have launched mobile payment systems in Malaysia?
    In Malaysia, there are some companies have already launched mobile payment systems such as Celcom, Maxis, Digi, TMtouch, Maybank, Hong Leong Bank, Mobile Money International Sdn Bhd, and others.


    Potential of mobile phones to make the transformation...
    According to the study of Bank Negara Malaysia, mobile telecommunication networks provide a mobile electronic payment channel when mobile phones are in the hands of most Malaysians, with 88% of the Malaysian population subscribing to mobile phone services.


    The high penetration rate states that mobile phone network is an increasingly popular channel for Malaysians to perform a plethora of activities beyond voice communication, encompassing all forms of digital communication, commerce, banking and payments. Indeed, mobile payments via text messaging have the potential to grow currently in Malaysia.



    With the favorable market conditions, various potential mobile payment initiatives have been launched in recent years. It has potential to continue growing if a consumer’s confidence on mobile payment system continues growing.


    Consumers’ adoption strategies for using mobile payment systems...


    **Security: Mobile payment systems provide an alternate payment mechanism that would not only lower cost of transactions but also give a security to the users.


    **Low transaction cost: Mobile payment systems provide an efficient and cost-effective method of delivering financial services in the remote areas.



    **Convenience: Mobile payment systems provide high-speed transaction and convenience for users as users do not need to carry any cash.


    **Easy to use: Mobile payment systems are easy to use. Transaction can be done by just sending a SMS.


    Latest news for mobile payment systems in Malaysia...
    In April 9, 2009, contactless mobile payment service utilizing Near Field Communication (NFC) technology was introduced by Visa, Maybank, Maxis and Touch n' Go.

    Relevant News Website:

    Maxis FastTap: The World’s first multi-payment NFC mobile service

    World’s first contactless mobile payment system’ launches in Malaysia

    ~For more information, please refer to following websites

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