Review on a post on E-Tailiing from My E-Commerce blog -* Touch n Go*-

Touch n Go card is well known as a pre-load cash card which is mainly use for transportation and toll collection purpose. Recently, Touch n Go Sdn Bhd (TNGSB) has been introduced in both KL International Airport (KLIA) and Low-Cost Carrier Terminal (LCCT) since February 2008.

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According to TNGSB’s managing director Datuk Yahya Yaacob, TNGSB is planning to have 16 new sites in the Klang Valley and also planning to expand this facility to Johor Baru and Penang.

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Surprisingly, start from 19th April 2008, consumer are able to buy fast food or even shopping in some hypermarket by using Touch n’ Go card. The outlets are from A&W, Burger King, Dunkin’ Donut, 7-Eleven, Carrefour hypermarkets, Caltex convenience stores and Cineleisure.

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Consumer no need to worry about extra charge in using TNG card as all the chain stores have an agreement that there will be no extra charges for those using Touch ’n Go cards compared to those using cash.

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Furthermore, TNG user would not have to worry about card lost or stolen problem. Same as other credit card and ATM card, user just need to inform TNGSB immediately and they will block the card.

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TNGSB hope that by next year, 5% to 10% of the cardholders will use it for retail purchase, emulating the success of Octopus card, which is a transit electronic purse in Hong Kong that is one of the most successful in the world, only has 20% of the holders use it for retail purchase.

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In my opinion, TNG card has been move forward to fast food industry. However, this facility only available in Klang Valley, which means most of people, especially those not around Klang Valley, has no chance to really participate in the usage. This will lead to lower usage in current and also future. I suggest that they should try to speed up in expanding this facility as what they have planned. So this will give benefits to everyone including TNGSB by increasing the usage of TNB card in retail purchase.

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http://ecommerze.blogspot.com/search/label/e-Tailing

http://thestar.com.my/metro/story.asp?file=/2008/6/26/central/21648200&sec=central

http://thestar.com.my/news/story.asp?file=/2008/4/12/nation/20902911&sec=nation

Credit Card debts: Causes and Preventions

Credit cards, when used properly, are convenient and a great budgeting tool. If abused, though, credit cards can be the start of a years-long nightmare and unbelievable stress. However, nowadays it seems that credit cards are almost a necessity, rather than a luxury, which has caused many people to have a huge problem with credit card debt. Generally, everyone would have more than one credit card on hand and it has been found that there are many people who have been relying on their credit cards too much and are now in debt.

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A credit card is exactly what the name implies which is a card with which you are able to use by borrowing on credit. Every time you use a credit card, you are borrowing money from the credit card issuer. Also, each time you use your credit card, you are increasing your credit card debt. The major factor is users will be charged interest on the balance owed when making only the minimum payment due. Therefore, users are just paying interest on the previous month's balance as well.

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Poor money management skills also one of the factors that causes credit card debts. A sudden reduction of income will cause people fall up to the ears into credit card debts. For example, people kept on spending as much as they got used to regardless of the reduced income.

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Furthermore, there are too many people who cannot possibly find equilibrium between their expenses and their income. With prices of goods and services are going up but not the income, hence people are forced to spend beyond their earnings. At that time, they will use credit card to purchase the goods and services and unable to payback the expenses.

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http://ezinearticles.com/?Why-Credit-Card-Abuse-Causes-So-Much-Debt&id=1018899 http://www.articlesbase.com/finance-articles/using-credit-cards-can-cause-debt-719910.html http://www.credit-land.com/articles/articles_page_68600_1881780_120.php

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When it comes to credit card debt, prevention really is better than cure. First, avoid interest charged and stay out of debt. Every credit card offers interest-free period, thus settle the payment before the period ends. If you can afford it, pay doubles the minimum payment. The minimum payment usually pays just enough to cover the interest and a little more that pays down the balance. Paying extra will pay your balance more quickly.

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Instead of a bunch of credit cards, it's recommended to only own one or two low interest ones. The lesser card you are holding, the lesser probability for debts. Besides, you are also recommended to use debit card or paying in cash, both of which only use what you have as opposed to adding to your debt.

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Finally, credit card users should establish good credit card spending habits. A credit card should be a convenient means of spending money that you have readily available. It is not a free pass to spend money that you don’t have or will be borrowing. Thus, the users are advised to keep a budget and know what you have available to cover expenditures.

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As a conclusion, only use credit card for major purchases or emergencies. If you do not have money available in liquid assets to cover the purchase, do not use the card. If you can get into good credit card habits early on and stick with them, you will avoid having to dig yourself out of credit card debt.

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http://www.mozdex.com/prevent-credit-card-debt/

http://personal-debt%20management.suite101.com/article.cfm/answers_to_difficult_credit_card_debt_questions http://www.linkroll.com/credit-card-debt/easily-reducing-credit-card-debt.phphttp://www.allbusiness.com/personal-finance/credit-cards-credit-card-debt/2448-1.html

The application of pre-paid cash card for consumers

Pre-paid cash card work as a reloadable debit card allows you to only spend up to the amount you have pre-deposited into the account. As purchases are made, funds are immediately deducted from the available card balance. If you tend to control you’re spending then a pre-paid cash card or prepaid credit card could be a good card for you. Thrust me, it is a new way to managing your money. A pre-paid cash card is safer if comparing to carrying cash because cash card can prevent cash being stolen or lost.

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Pre-paid cash cards may be convenient for the card holder; the real benefit belongs to the card issuer. Because the cards are pre-paid, the issuer gets immediate use of all the money that was used to fund the card, even if the cardholder takes months to spend it all. So, now many consumers choose to apply a pre-paid cash card because it is safe and easy.

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a http://www.creditcards.com/prepaid.php

a http://www.creditorweb.com/definition/cash-cards.html a

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Example of pre-paid cash card

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The Touch 'n Go smart card is used by Malaysian toll expressway and highway operators as the sole electronic payment system (EPS) which uses contactless smartcard technology. The card looks similar to a credit card. Touch’n Go card not only for toll fare but also parking services, public transport , theme park and cashless payment at retail outlets . User can continue using the card as long as it is pre-loaded with electronic cash. . once user finish with their money they can reload their card at toll plaza , train stations, petronas kedai mesra, kiosk, mini mart ,mobile phone shops , auto teller machines . The card may be reloaded from 10 denominations between RM10 to RM500.

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You can use Touch ’n Go card to buy burgers. Have u heard of it?

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Yes , you can . The next time you go to a fast-food stall for your burger or doughnut, don’t worry if you have forgotten your money as all you need is your Touch ’n Go card. You can buy such items from 21 outlets in the Klang Valley under a pilot scheme for the Touch ‘n Go card which is currently a toll, public transport and parking paying device. The outlets are from A&W, Burger King, Dunkin’ Donut, 7-Eleven, Carrefour hypermarkets, Caltex convenience stores and Cineleisure. The card could also be a good way of controlling children's spending as this could be their one card from taking public transport to buying their lunch or snacks.

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Touch‘n Go enhances the speed of paying for low value but high frequency transactions. Apart from the speed, it is also very convenient because user no longer need to prepare for small change or wait in queue at the cash lane to complete the transaction. Touch 'n Go Sdn Bhd (formerly known as Rangkaian Segar Sdn Bhd), the operator of this Electronic Payment System, has several range of Touch ‘n Go cards to suit different market needs too.

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a http://en.wikipedia.org/wiki/TnG

a http://www.touchngo.com.my/index.jsp

a http://thestar.com.my/news/story.asp?file=/2008/4/12/nation/20902911&sec=nation

Mobile Payment System in Malaysia : Its Potential and Consumer Adoption Strategies

Mobile payment is also referred to as mobile web payment or WAP billing and it is the collection of money from a consumer via a mobile device.

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One of the mobile payment system in Malaysia, Mobile Money, is guided by Mobile Money International Sdn Bhd. Mobile Money provides any handphone users the convenience to pay anyone, on any time, at anywhere. This system is a PIN-based Mobile Payment Solution. It unlocks the power of the mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service). This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.

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There is a great potential for mobile payment services in Malaysia since it is changing the behaviour of users and increasing the demand over time. Supportive actions and collaborations with banks and handset vendor will helps in speed up this demand. Beside, mobile money might replace cash or face to face transaction since it is so convenience and safe to deal with. Furthermore, people now a day become more and busier, mobile payment will helps them to save time and sometime also the transportation fee.

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Consumer adoption is necessary for the success of mobile payments, yet consumers may be not familiar with this payment technology. Mobile money has adopt 3 different strategies to increase consumer adoption in this system: i. Secure Mobile money provides highest security to protect their user while doing payment. They conform to best practices in the industry, participating banks and regulated relevant authorities. ii. Rewarding Mobile Money rewarded user while shopping or purchasing using Mobile Money system.

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http://www.mobile-money.com/

http://www.neowave.com.my/mobilemoney_overview.asp

http://www.ngrguardiannews.com/compulife/article02//indexn2_html?pdate=070109&ptitle=GSMA%20insists%20on%20single%20wire%20protocol

Electronic Currency

Electronic currency (also known as electronic money, digital money, digital or digital currency) refers to money or scrip which is exchanged only electrometrically. Typically, this involves use of computer networks, the internet and digital stored value systems. Example of electronic currency such as Electronic Funds Transfer (EFT) and direct deposit Also, it is a collective term for financial cryptography and technologies enabling it.

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Digital money is a system of debits and credits, used to exchange value, within another system. Also sometimes the term electronic money is used to refer to the provider itself. A private currency may use gold to provide extra security, such as digital gold currency like e-gold and c-gold. Many systems will sell their electronic currency directly to the end user, such as Paypal and Webmoney.

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Advantages

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Banks offer many services to the customer that transfer funds, contribute to their retirement plans and offer a variety of other services without having to handle physical cash or checks. Customers do not have to wait in lines and this provides a lower-hassle environment.

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Debit cards and online bill payments allow immediate transfer of funds from an individual's personal account to a business's account without any actual paper transfer of money. This offers a great convenience to many people and businesses alike.

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Disadvantages

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Although many benefit to electronic currency, there are also many disadvantages. These include fraud, failure of technology, possible tracking of individuals and loss of human interaction.

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Fraud over digital cash has been a pressing issue in recent years. Hacking into bank accounts and illegal retrieval of banking records has led to a widespread invasion of privacy and has promoted identity theft.

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Future evolution

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Furthering network evolution in terms of digital cash development, a company named Digi-Cash is at the focus of creating an e-cash system that would allow issuers to sell electronic coins at some value. When they are purchased they come under someone’s own name and are stored on his computer or under his online identity. At all times, the e-cash is linked to the e-cash company and all transactions go through it, so the e-cash company secures anything that is purchased. Only the company knows your information and will properly direct purchases to your location.

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http://www.solarnavigator.net/venture_capital/electronic_money_transfers.htm

https://www.amazines.com/Electronic_Currency_related.html