The Application of Prepaid Cash Card for Consumer.

Prepaid cash cards are used to help the users to control their spending. Prepaid cash card is a reloadable debit card that allows users to only spend up to the amount they have pre-deposited into the account. If a person would like to control their spending then a pre-paid cash card could be a good card for him and it can prevent the users from the risk of heavy debt or bankruptcy.

Benefits of pre-paid cash card:

* Spending independence: Users can use pre-paid cash cards just like regular debit/credit card at any card acceptable merchant locations. Users get the independence they deserve with the built-in spending controls of a pre-paid cash card.

* Convenience: Pre-paid cash cards can be used conveniently in urban area whenever Visa/MasterCard or Touch ‘n Go is accepted at stores, petrol station, restaurants, convenient stores and in the shopping malls. The card can also be used to access cash at ATMs.

* Budgeting: Users can figure out in advance how they will spend it, spending can be controlled by how much money is loaded. In addition, pre-paid cash cards provide a simpler way to keep track of money versus carrying cash.

* Safer than cash: pre-paid cash cards users are protected from unauthorized transactions if the card is lost or stolen. Cards can be replaced easily if lost or stolen.

* Be a good financial planner: pre-paid cash cards can help users to learn to manage their financial and have a better money management skill. Users can monitor the balance and can also review the transaction history in detail.

* Security: The card can be charged only up to the amount of the pre-loaded cash, the thieves cannot make an excessive charge using the pre-paid cash card.

Examples of Pre-paid Cash Card:

Malaysia's Touch ‘nGo:

http://www.touchngo.com.my/WhatTNG.html
Touch ‘nGo is an electronic purse used by Malaysian and it’s firstly established to be used at all highways in Malaysia, major transports in Klang Valley and selected parking sites. However, nowadays Touch ‘nGo can be seen at major convenient stores for small purchase transactions.

The major benefits of a Touch ‘nGo card are as follows:
- One card for all toll, parking (etc: KLIA, KLCC, Bangsar Shopping Mall, 1 utama,.. ), public transport (etc: Rapid KL buses, KL monorail, Ampang line, Kelana Jaya line, KTM komuter)and theme park (Bukit Merah Lake town Resort).
- Dedicated lanes for touch ‘nGo card holders.
- No need to prepare for exact change.
- No need to wait for the queue and wait for the attendant to give you the small change.
- No fumbling for cash at the gate of toll.
- Fast and convenient. Can reload or top-up almost everywhere. Can be used with smart-tag
For more information, please click here http://en.wikipedia.org/wiki/Touch_

Hong Kong’s Octopus Card:

http://www.oc/topuscards.com/consumer/en/index.jsp

Octopus card is widely used in Hong Kong for transactions on public transport, convenience stores, fast food shops, supermarkets, cake shops, vending machines, school and parking. Octopus card works like the Touch ‘nGo card in Malaysia whereby the system will deduct the amount automatically. Each Octopus card has a built-in microchip containing an electronic purse and other application which can accurately record the holders’ every transaction details. Users simply hold their Octopus card over the reader, and the correct amount will be deducted automatically.

BeiJing’s Yikatong :

http://www.economicexpert.com/a/Yikatong:card.html

Yikatong is a store-value contactless smart card used in Beijing, China, for public transportation and related uses. Yikatong means “one card pass” in Chinese. It is similar to Hong Kong’s Octopus card, or the Singapore’s EZ-Link.