Paradise

There are numerous names used to describe electronic currency such as e-money, electronic cash, digital money, digital cash or digital currency. It’s an electronic worldwide currency. This online payment system provides a safe, easy and inexpensive way for everyone to transact business 24/7. Currently, e-cash represented by two models which is on-line and off-line version. On-line form of e-cash allows for the completion of all internet transactions. While the off-line form is a digitally encoded card that could be used for many of the same transactions as cash.

Here are some successful examples of using electronic currency. One of it is Hong Kong’s Octopus card system. This card can transfer the electronic payments in online as well as in offline system. Octopus card was the first card system implement in the world. Nowadays, this card system used widely for all public transport payments in Hong Kong. It also can use for payment at supermarkets, parking meters and so on.

Credit card, some people think that it is the greatest inventions; some people think that it is a evil thing. So what make credit card so special that people are having love hate feelings toward it?












Well, as simple as ABC, Credit card is a plastic card that is designed to be elegant and high-class look-like card. Its special and charming function is to help people to pay for card holders' desire things and services, by actually loan to them. Once card older had sweep it to make a payment, interest will be charge and total accumulated interest and payments will be printed in a nice and tidy statement that guarantee deliver to your doorsteps every month. That is the time people start wondering and consistently asking themselves whether you really spend that much? Whether they have bought these expensive clothes? Whether you had dine in those fancy and expensive restaurants?




A man dressed as an ancient Chinese official (L) drags a credit card "slave", or a consumers in credit card debt, as they take part in a demonstration calling for the government to pass a law to help people owing money to banks, 02 June 2007, in Taipei.




Undoubtedly, credit card had bring a lot of joy, fun and convenience for us. Especially for this modern and speed demanding era. It is very useful that people can buy many things without carry many stacks of money. It gives people conveniences to shop easily and faster. People use it to pump gas, do online bookings buy clothes etc... You enjoy the moment of sweep that card at counters, you feel proud when you showing off people your unlimited credit platinum credit card ... as a consequence, and you bear mountains of debt every months. Credit is the promising to spend future earnings in order to obtain a good or service today. That is why people named it as credit card. It is fun when you can afford (virtually) to buy any things as you like, people always experience a situation like "spend today and worry tomorrow". While in fact they do not have so many savings to cover the debts. If they could not clear the debts bank will charge interest from time to time and debts can go even higher.


Nowadays, many banks are competing within themselves to offer their credit card services to the public. In order to grab people's attention, they doing many promotions, brainwashing people with many sweet talks and tempt them with good offers, such as point exchange, travel package and hotel...etc. Many people falls in their trap, hence sign many cards. People are carrying more than one credit card. So, if they went to shop and either one of their card has reach the limit and they already queuing in front of many people, they will try others card to buy that particular things to avoid being disgraced. While they actually realize that they are having serious problems ahead.


Credit card basically can destroys money management. Why it is so? During this financial crisis time, many merchandisers are offer cash rebate to encourage shoppers to buy more. Though some of the cash rebates only need a very low limit but imagines if consumers buy all the unnecessary things just to get the little amount of cash rebates, it could be a bubble. As a consequence of tempted to the cash rebates card holders did’t realise that they are actually spending over their budget. Worse thing is they usually realize it after payments made.


For those who having debts or going to own a credit card soon, here is a few tips that i hope can help you:
1. Plan what you really need to buy and not what you want to buy. Do some calculations that roughly how much you require to purchase the things. Bring enough cash with you just to buy, eat and for transport.
2. Do walk away and reject those handsome or pretty sales persons that come to approach you. Remember you enjoy now, you suffer in future. Bear in mind that credit card is sucking your future money.
3. Probably we should switch back to pay by cash. By doing this way, you can count and remember how much that you spend and how much that you left for savings.
4. If you really need a credit card so much, i suggest that you should just limit your credit limit to the lowest, hmmm...maybe one thousand in a month? Or choose debit card instead, it functions exactly like your credit card but the only differences is you spend what you have. Therefore you won't carry debts.
5. Lastly if you are carrying many credit cards it is time for you to choose which one offers the best and worthy interest rate and terminate all those others.

The function of prepaid cards are just similar to credit cards. They offer the users to purchase products and services in the market but the significant difference is that user can only spend the amount that has been preloaded onto the card but not pay at the end of month.

There various way to reload prepaid cards such as reload through bank, post office or bank transfer. However, it depends on the prepaid provider company policy. Every company mayb have differennt policy, therefore, consumer need compare which will be more felxible while choosing prepaid card.

There are few major Advantages of prepaid card, such as:

i) Availability - Consumer can get a card withoud worry about credit history because there are no credit check available.

ii) Safety issue - Carrying a card will be more safer than carry cash especially when want to pay a huge transaction amount.

iii) Control - Parents can control their children's spending by just reload a certain amount into children card. Besides that, this can also limit consumer spending since the spending amount is just limited to the balance of the prepaid card, so that consumer do not have to bear debt risk.

PreCash had conduct a survey on application of consumer using prepaid card, the result are as follow:

1. To pay bills

2. They wanted a Visa card

3. They wanted direct deposit

4. To avoid carrying cash

5. To shop online

There are some other application that is common seen in Malaysia such 'Touch n Go'. Initially, it is just to use for pay toll fee, but after some time, Touch n Go card holder can use the prepaid card to paid train(KTM) fare also. Besides that, some of the busses company also allow passenger to use Touch n Go to pay the fare for example Rapid KL.

Some of the cafe is also promoting own shop prepaid card to consumer , for example Island Red Cafe(IRC) , but this is only restricted to their member only.

Other than that, some online games company also offer prepaid card to their players, for example i1game company.

Reference:

i) . 5 July 2009, from http://www.i1games.com/index.asp?show=games&link=direct&bid=16

ii) Guide to Prepaid Cards. 5 July 2009, from http://www.moneysupermarket.com/c/prepaid-cards/guide/1/

iii) Why people use prepaid card. 5 July 2009, from http://prepaidexpo.blogspot.com/2008/12/why-people-use-prepaid-cards.html

Nowadays, we can buy touch n go card in any retail shop around us. In our earlier perception, “touch n go” is used for traveling by bus, KTM, LRT, other public transport, as well as passing tolls. However, the review on the post "Using Touch n Go card to buy fast food in Malaysia will be a reality" in http://ecommerze.blogspot.com/search/label/e-Tailing brings a new point of view to us on the usefulness of Touch n Go card.

When you are traveling on the highway, and take rest at the comfort stop. Do you hope to have a meal at there? There are some fast food restaurants, like KFC, Burger King, A&W, and so on. No need to carry too much cash along the trip, what you only need is your Touch n Go card – as long as there is enough balance in your card. Some more, there are some promotion when you use Touch n Go card to consume in the restaurants above mentioned.

Besides, Dunkin’ Donut, 7-eleven, Carrefour hypermarkets, Caltex convenience stores also accept payment made by Touch n Go card. The card can be reloaded through bank, retail shop, 7-eleven, and so on. It will not be troublesome for cardholder to reload the card.

Well, additional functions of Touch n Go card bring more benefits and convenience to consumers. It is improvement of e-tailing in our country, by using prepaid card – which known as “electronic purse”. Will it success to be used for retail purchasing? Appropriate promotions must be done to let public know the usefulness of this card, and then it will hit the target.