PRE-PAID CASH CARD FOR CONSUMER

Pre-paid cash card is a rechargeable stored value card that can be used to transfer electronic payments in online or offline system. The amount to be paid will be deducted from the value. Once the initial value has been completely used up, user can top up and continue using it to make transaction. With a pre-paid cash card, we can have faster journey and we do not need to carry so much cash with us all the time. With just a card we can go anywhere we want. It is so convenient and safe.

In every country there is different type of pre-paid cash card such as:
- OCTOPUS in Hong Kong
- sQuid in UK
-In Malaysia we have Touch’n Go

Touch’n Go Card is a well know pre-paid cash card that is widely used in Malaysia. It is convenient and easy to use. Its name basically has tells us that to operate this card; we just need to touch any side of the card to the card reader and when the system emit a “beep” sound, this indiicate that the transaction is successful and we can continue our journey. Touch’n Go can be use as a mode of payment for highways, public transport, selected parking and theme parks. Now we can even use Touch’n Go to pay at 7-eleven, Dunkin Donuts, Caltex petrol station, Burger King and few other outlets to enjoy privileges such as free gift and discount.

Each time we uses the Touch ‘n Go card, the electronic card reader will deduct the exact fare from the value stored inside the card. We can top-up or reload the card with a pre-defined amount to continue using it at any Touch ‘n Go Sales Counters ,Lorong Tambah Nilai at highways, selected Petronas stations, STAR & Putra LRT, KTM Komuter, ATMs in selected banks and third party reload agents.

To reload, we just need to present the card to the Sales Counters. Choose the reload value and pay the amount to the Customer Service Attendant. A receipt will be given after the reloading processes. For security purpose, each card can only store up to RM1500.00.

How to apply Touch’n Go?
Its EASY and FAST. You just need fill in an application form at any Touch’n Go Sales counter located at any selected Touch’n Go outlets in highways, Petronas Station, LRT Station and third party agents. Click here to search for the location near you.

This card cost RM10 each and comes with a year warranty period. You can choose a reload value from a minimum amount of RM20 and maximum amount of RM500.Then you can start using the Touch’n Go card to make transaction.

This is how Touch’n Go Electroic Payment System (EPS) Flow

By Cherly Khu

Credit Card Debts: Causes and Prevention

Nowadays, using the credit card is very prevalent. Many banks will also promote their credit cards to users by giving some free gift. There are some causes and prevention of credit card debts are as follows:

Causes

Firstly, the users are having poor money management. The users’ salaries may have reduced but the expenses still remained unchanged so the expenses are more than the income. Ultimately, it leads to debts. Besides, it depends on the users’ characteristic, some users like to play the peacock, even they are unable to pay the debt at the end of the month but they still want to make payment by credit card due to be sensitive about one's reputation. On the other hand, unemployment is also another factor because people who experience unemployment may continue to perceive it was only for a temporary period.

Prevention

Firstly, with debt management plan, users have to pay a regular monthly amount to a Debt Management Company. This company helps the users negotiating longer repayment times with your creditors and lower repayments to the Debt Management Company. Also, the users can cut down the amount of the cards they are holding. Another best practice regarding credit cards is to have a direct debit set up so that users have to pay back the full amount each month. This means that while users have the convenience of using the card in emergencies or while abroad, users have a strong incentive not to let the spending get out of control.

By PeiCin

Your Mobile Your Wallet

With more than 16 million mobile phone subscribers in Malaysia, it is inevitable that mobile phone will become a potential payment tool. Mobile payment systems enable the mobile phone to function like a credit card and it allows users to pay from wherever they may be.

How it works?

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Mobile Payment Systems in Malaysia

For instance, the Visa trial program began in the month of October 2007. Visa in Malaysia has collaborated with Maybank, Nokia and Maxis to launch a trial with around 100 staff in order to test contactless mobile payment services. This helps in building up country's existing infrastructure and further utilizes Visa's mobile platform besides delivers a consumer experience excellent in graphics.

Citibank Malaysia has launched a mobile bill payment service as part of its initiative to cater to the increasingly time-sensitive and on-the-go lifestyles of customers, allowing them to pay their bills while at lunch, while shopping or at work. There is no time lost looking for parking, queuing or writing checks.

Morever, I myself, being a subscriber of one of the leading mobile payment service provider in Malaysia: Mobile Wallet, has experienced the convenience and mobility it brought. Now, paying bills is as easy as 1, 2, 3! It helps users avoiding the hassle of queuing to pay phone bills, electricial bills, water bills and other bills. Furthermore, Top-up my prepaids is the most frequent activity that i performed using Mobile Wallet. It's Simple, Practical & Convenient!

Some of the Mobile Wallet Merchants:

Customers' adoption strategies
To attract more users adopt mobile payment, service providers should separate various segments in their potential markets based on age, gender, geography, or any combination of demographics. Service providers should later check to see whether any of this market segments are large enough to support the organization's service. Once a target market is chosen, the organization can develop its marketing strategy to target this market.

For example, given a scenario where youngsters are chosen as a profitable market, service providers should approach more merchants that are popular among the y-generation such as shops for stationeries, accessories, apparel and cosmetic products.

By SueHui

Review : Touch 'n Go

card is commonly used by Malaysian in paying the toll expressway, highway, bus, railway and others and there are about 4 million of Malaysian holds Touch ‘n Go card (TnG) and an average of 1 million transactions each day.

The latest function offered, which is enabling the cardholder to purchase the fast food, movie ticket and merchandise with the CARD! It is convenient to the users as they can enjoy and possess the food or things by just “Touch ‘n Buy”. As the card is function as money or even credit card, it will be the target of pickpocket. Consequently, the one card for multipurpose usages will bring disaster to the users when the card is missing or being stole. Therefore, the company should enhance the security of the card.

Below are the suggestions to improve the security of the card:

(1) Registration must be done for every purchase of TnG card. The purpose of registration is to make sure the security of card is enhanced.

(2) The feature of stops the transaction of card when the card was reported as missing or upon the request of cardholder.

(3) Allow the cardholder to transfer the balance of TnG card to a new card or other supplement card.

Besides that, cardholders are advice not to reload in huge amount to prevent the people or pickpocket that having it from gaining benefit.

TnG is similar to that famous with its multipurpose usages.

Besides the ability of using the card to purchase things and transportation, it has security access system that benefit the cardholders by just simply scan their Octopus card to gain access to their house or office. It is so convenient as the residents or officers do not have to memorize the access code, however, it is disadvantageous in a way when the card is lost and use by the thief to gain access to their house and office.

In a nutshell, although it is true that TnG card bring convenience to us, on the other hand, the company should develop a sound security system so that there are no way for unauthorized people obtain benefits from the card.

• Why not compare Hong Kong Octopus With TnG?

By FuiChin