The Application of Pre-paid Cash Card for Consumers

In this technology era, everyone should has their own prepaid cash card. A prepaid cash card is a plastic card and basically the same as a prepaid gift card or a mobile phone SIM card. The card looks like a credit card or debit card and gives users the ability to purchase products and services with a card but with a crucial difference. Prepaid cash card allows people to only spend up to the amount they have pre-deposited into the account. This means that there is no risk of running into debt as it has no credit or overdraft facility. This can allow consumers have a better control over their finance and also benefits in their daily life. In short, it is safe, effective and convenient. The following are some types of prepaid cash cards:


1. Touch 'n Go

Touch 'n Go or TnG smart card is used by Malaysian toll expressway and highway operators as the sole electronic payment system (EPS). User can continue using the card as long as it is pre-loaded with electronic cash. User can reload the card at toll plazas, train stations, ATM, Cash Deposit Machines, Petrol kiosks and at authorised 3rd party outlets. Reload dennominaton is ranging from RM20 to Rm500. The purpose of implementation of this smart card was design to reduce the congestion at toll plaza. Now, this card also serve as the purpose of paying parking fees, bus and train tickets. This smart card had even spand its usability to pay bills when purchasing at A&W, Burger King, Dunkin' Donut, 7-eleven, Carrefour hypermarkets, Caltex convenience stores and Cineleisure.


2. EZ-Link

EZ-Link card is a contactless smart card used for the payment of public transportation fares in SIngapore, with limited use in the small payments retail sector. This smart card was introduced for use since January 2002 for use it on the MRT, LRT and public buses. Now, it is increasingly being used in all sectors of retail from leisure to dining or shopping. EZ-Link cards are sold, distributed and managed by EZ-Link Pte.Ltd, a subsidiary of Singapore's Land Transport Authority.


3. Octopus Card

Octopus card is a rechargeable contactless stored value smart card used to transfer electronic payments in online or offline systems in Hong Kong. It was launched in September 2007 and widely used in all public transport in Hong Kong. Besides that, Octopus card also used for payment at convenience stores, supermarkets, fast-food restaurants, on-street parking meters, cars parks, and other point-of-sale applications such as service stations and vending machines.


The Application of Prepaid Cash Card

1. Pay bill – Rent, utilities, insurance, car payment, and cell phone bills can be paid instantly.

2. Shop anywhere as long as the card using is accepted at different retailers, buys fuel at the pump, pay by phone, and shop on the Internet.

3. Get cash at ATMs, any time of the day, and any day of the week.

4. Transfer money – For some prepaid cash card they provide the convenient such as send or receive money via bank wire transfers, between two cards.

5.Pay for toll– use Touch n' Go card as an example, it can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park

6.E-identification – Smart cards storing personal information. For example: Malaysian Identity Card, Malaysian International passport.

7. Health care – Smart card stores health data about patient, allergies, past medical records.

References :
http://www.touchngo.com.my/WhatTNG.html
http://en.wikipedia.org/wiki/Touch_n_go
http://ec.eurecom.fr/~arnaud/zds/report/node48.html
http://en.wikipedia.org/wiki/EZ-Link
http://www.ezlink.com.sg/consumer/consumer_ezlinkcard.jsp
http://en.wikipedia.org/wiki/Octopus_card
http://thestar.com.my/news/story.asp?file=/2008/4/12/nation/20902911&sec=nation