Well what do we have here? The pre-paid cash card, what is that? It is a card or cash? That is card with money sound like same with credit card. However, different between these two cards is paying cash period where paying before transaction was made and paying after transaction was made respectively but the similarity between this two is they both are card.
In Malaysia the pre-paid cash card is the Touch ‘n Go which under Touch ‘n Go Sdn Bhd (formerly know as Rangkaian Segar Sdn. Bhd.). This Touch ‘n Go card is an electronic card where uses to pass a toll in any highway in Malaysia just a simple touch to pay the toll and continue the journey. Moreover, this card also can be use in major public transport in Klang Valley only and also can pay the car park fees by using this card also but with specific places such KLIA. For more information you log on to this website for more information http://www.touchngo.com.my/WhatTNG_WhereToUse.html
However, Touch ‘n Go only for Malaysia but how about other country? Let me introduce the Octopus which under Octopus Card Limited in Hong Kong and it is now world’s leading the contactless smart card system because of the superior operation and continuous innovations and earning a global reputation. Because of those factor brings more convenience to citizen in Hong Kong. This is the link which this company been awarded http://www.octopus.com.hk/awards/en/index.jsp
For more information about Octopus here the link for you to visit http://www.octopuscards.com/corporate/aboutus/en/index.jsp
Saturday, July 4, 2009
Mobile payment systems in Malaysia: its potentials and consumers' adoption strategies.
In Today news seldom hear people using phone to make payment because most of the people are using the Internet such as e-banking. However, has anyone know or hear about the mobile money? Is it mobile money is pre-paid card? Now let introduce you the mobile money also know as MM wallet.
Mobile Money is a PIN-based Mobile Payment Solution created by Mobile Money International Sdn Bhd where this service is tries to replace the limitation of cash, credit card and cheque. Moreover, this service provide easy and simple step to make payment via SMS (Short Messaging Service) to give more freedom to the user to make any payment for the goods and services at anytime and anywhere the user like.
However, this service very limited in Malaysia due to no much merchants using this kind of services but this company think this might be a niche market for the future is because this might be benefit to merchants if apply this kind of services such can sell to anyone, anywhere at anytime so the merchant no need to open shop to wait customer come and make the customer find them. Another benefits are no minimum monthly transaction, no rental fee, no merchant account required and also super low transaction fee at 1.5% some more the safe and secure where no need to worry the fraud case of paying cash, cheque, and credit card.
By the way, the mobile user is keep increasing in Malaysia maybe one person at least have one or two hand phone(s) so it might be chances of business might be increase so you might think to join this kind of business so for more information about mobile money please go this website to know about it http://www.mobile-money.com/
Mobile Money is a PIN-based Mobile Payment Solution created by Mobile Money International Sdn Bhd where this service is tries to replace the limitation of cash, credit card and cheque. Moreover, this service provide easy and simple step to make payment via SMS (Short Messaging Service) to give more freedom to the user to make any payment for the goods and services at anytime and anywhere the user like.
However, this service very limited in Malaysia due to no much merchants using this kind of services but this company think this might be a niche market for the future is because this might be benefit to merchants if apply this kind of services such can sell to anyone, anywhere at anytime so the merchant no need to open shop to wait customer come and make the customer find them. Another benefits are no minimum monthly transaction, no rental fee, no merchant account required and also super low transaction fee at 1.5% some more the safe and secure where no need to worry the fraud case of paying cash, cheque, and credit card.
By the way, the mobile user is keep increasing in Malaysia maybe one person at least have one or two hand phone(s) so it might be chances of business might be increase so you might think to join this kind of business so for more information about mobile money please go this website to know about it http://www.mobile-money.com/
Friday, July 3, 2009
Credit Card debts: Causes and Prevention
Nowadays, people are more likely to use credit card to pay for their expenses rather than cash. Most of them today are using credit card to purchase everything. In other words, people like to use future money (credit card) as they do not have enough cash on their hand. Thus, credit card debts are the major cause of bankruptcy each of the year. This is because the people are never realized of its consequences from financial and non financial perspective.
CAUSES of Credit Card Debts
1. Financial illiteracy
Many people don't understand how money works and grows, how t save and invest for a rainy day, or even why they should balance their checkbook. The school don't teach it, your parent may not have sat you down and explained it, but it doesn't matter. You are responsible for your money and your life anyway. Financial mistakes are increasingly expensive and complicated to resolve.
2.Under-employment
People who experienced under employment may continue to think of it as only temporary or if they are coming off unemployment feel a false sense of relief. Yes, you deserve a break, but this is not the time. Get those expenses in line with your current income. Down the road if you increase your income due to more hours, a second job, or a better job, then is the time to start adding in some of the previous spending before you became unemployment.
3.Poor Money Management
A monthly spending plan is essentials. Without one you have no ideas where your money is going. You maybe spending hundreds of dollars unnecessary each month and end up having to charge purchases on which you should have spent the money. Planning is no more difficult than write down your expenses and income and reconciling the two. You will be surprise at how powerful you'll fell when you are making thoughtful decisions about where and when to spend your money.
PREVENTION of Credit Card Debts
1.Credit counseling and debt settlement
Each help clients by educating them in ways to get out of debts and stay that way, but the approaches are significantly different. The objectives of credit counseling is to pay off debts in full by negotiating lower interest rates, while debt companies pay off debts fast by negotiating reductions in the amount owed.
2.Choose a credit card that offer lowest interest rate
Photocopy the credit card offer, including the interest rate and terms. Create a letter to your credit card company/companies stating that you are thinking of switching to their competition because they are a far more reasonable interest rate. Credit card companies do not want to lose your business. Nine times out ten they will match or even offer a lower rate than the competition have offer.
3.Manage your finances
Starting with a strategy will help you keep on track before you ever even pull out the credit card. Determining your monthly income and needed expenses. As part of these monthly expenses, figure in 5-10% of your income to set aside for emergencies, long range savings such as retirement account and short term savings. If you have some savings then you avoid to put large amount of debt on a credit card in times of crisis.
CAUSES of Credit Card Debts
1. Financial illiteracy
Many people don't understand how money works and grows, how t save and invest for a rainy day, or even why they should balance their checkbook. The school don't teach it, your parent may not have sat you down and explained it, but it doesn't matter. You are responsible for your money and your life anyway. Financial mistakes are increasingly expensive and complicated to resolve.
2.Under-employment
People who experienced under employment may continue to think of it as only temporary or if they are coming off unemployment feel a false sense of relief. Yes, you deserve a break, but this is not the time. Get those expenses in line with your current income. Down the road if you increase your income due to more hours, a second job, or a better job, then is the time to start adding in some of the previous spending before you became unemployment.
3.Poor Money Management
A monthly spending plan is essentials. Without one you have no ideas where your money is going. You maybe spending hundreds of dollars unnecessary each month and end up having to charge purchases on which you should have spent the money. Planning is no more difficult than write down your expenses and income and reconciling the two. You will be surprise at how powerful you'll fell when you are making thoughtful decisions about where and when to spend your money.
PREVENTION of Credit Card Debts
1.Credit counseling and debt settlement
Each help clients by educating them in ways to get out of debts and stay that way, but the approaches are significantly different. The objectives of credit counseling is to pay off debts in full by negotiating lower interest rates, while debt companies pay off debts fast by negotiating reductions in the amount owed.
2.Choose a credit card that offer lowest interest rate
Photocopy the credit card offer, including the interest rate and terms. Create a letter to your credit card company/companies stating that you are thinking of switching to their competition because they are a far more reasonable interest rate. Credit card companies do not want to lose your business. Nine times out ten they will match or even offer a lower rate than the competition have offer.
3.Manage your finances
Starting with a strategy will help you keep on track before you ever even pull out the credit card. Determining your monthly income and needed expenses. As part of these monthly expenses, figure in 5-10% of your income to set aside for emergencies, long range savings such as retirement account and short term savings. If you have some savings then you avoid to put large amount of debt on a credit card in times of crisis.
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