Credit card debts: causes and prevention

Nowadays, cost of living has becoming high, which indirectly have created various problems too many peoples. Mainly, people will place emergency bills such as car repairs, home repairs and others onto credit card and then hopefully can pay back the debts.

The cause of debts is because people have low income but high expenses. Today, many people are spending more than their income where expenses level is higher than income. Through poor money management also causes debts where they do not have monthly spending plan and not keeping track with monthly bills. By this, will leads to spending in useless things. Besides, for underemployment peoples are people not getting enough working hours at job, where not reaching the working hours requirements.

To prevent from credit card debts, one of the prevention is not ignoring primary debts because this should always be the main priority over other commitments. The best way is by listing all the income received monthly and monthly bills that need to be pay. By this there is no excuse to spend money on not important things. However, the need of having a saving plan is important. Where by setting aside a certain amount each month into saving account and setting a goal in mind can be motivates.

The application of pre-paid cash card for consumers

1. Touch-n-Go
Touch ‘n Go (TNG) card is a multipurpose pre-paid card which can be used in public transportation around Selangor and all highway in Malaysia. However, applications of Touch-n-Go are expended toward the retail purchases. Such as fast food industry and parking fees. Recently, TNG facilities at both the KL International Airport (KLIA) and Low-Cost Carrier Terminal (LCCT) since February this year. Consumer just load in money and use it to pay the fee, and prepaid card not like credit card is using the future money. It is very convenience to us.

2. Octopus

Octopus is one of the most successful " prepaid card" system. It is started from a transit payment system, and it has become a widely used electronic cash system. In Hong Kong, most of the people are using Octopus pre-paid card in different services including public transportation services, apparel stores, bakeries, car parks, cinemas, convenience stores, fast food chains, household stores, leisure facilities, personal care stores, photo finishing stores, photocopiers, supermarkets, and vending machines. From year 2006, ShenZhen and Macau also can use Octopus card.

3. Ezlink
Same as Touch-n-Go and Octopus, Ezlink is pre-paid card in Singapore. It can be used in different sector service including food & beverage, convenience shops, gaming, government service, health, shopping & retail, tertiary institutions, schools, private bus service and so on.




4. Oyster Card
Oyster card is known as " Pay as you go" cards. It is fully valid on London transport services. Started from 2007, Oyster card also can be used to purchase goods and services.

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Not only had these four prepaid card, others country also got prepaid card distributed. For example, Taiwan got EasyCard, Australia got SmartRider, Tcard, and myki.These four prepaid card got similiar features is to link to the public transport system. Besides that, we need to keep it safety. This is because prepaid not like credit card or debit card need to sign the receipt, so in order to protect ourselves' money, we need to be careful at all.

Review on a post from My E-commerce Blog - Touch n Go Card

There is a good news for all Touch n Go cardholders, we can use Touch n Go card to buy fast food now! From: My E-commerce Blog

Most of the residents in Kuala Lumpur have their Touch n Go card. As we know, Kuala Lumpur is a big city of Malaysia with high population. It may create a problem that we are not willing to meet, traffic jam. By using Touch n Go card, it can reduce the time in queuing for paying toll fee. Besides that, it is useful in taking LRT/KTM. Now we don’t need to buy a ticket and just put your Touch n Go card on the machine. After a sound of “Beep!” then you can continue your journey. There are so many benefit of Touch n Go card, thus I also own a Touch n Go card now.

However, I found some problems after using Touch n Go card. It is not useful in other places except the area of Klang Valley. My father who staying in Johor now has Touch n Go card too. He seldom uses it unless he wants to pay toll fees. Besides that, I cannot use my card in some places due to machine problems. There are few customer service centers besides the areas of KL.

Touch n Go card is a good card for us but it still needs to improve its quality and usefulness. Therefore it is good news that it wants to expand their applications and services towards the retail purchase. It is good strategy to attract more people to be cardholders of Touch n Go card.

For further details or latest news of Touch n Go card, go to
http://www.touchngo.com.my/
My Ecommerce Blog - http://ecommerze.blogspot.com/

Electronic Currency-DigiCash

DigiCash Inc. was a pioneering electronic currency corporation founded by David Chaum in 1990. DigiCash transactions were unique in that were anonymous due to number cryptographic protocols developed by its founder. DigiCash declared bankruptcy in 1998, and subsequently sold its assets to ecash Techologies, another digital currency company which was acquired by InfoSpace on Feb, 19, 2002.

There were some reasons I searching on the internet DigiCash failed:

DigiCash is the techno-determinist view, more fashionable version according to which technology is developing according to some inherent, independent route. Thus, DigiCash was too good a technology, it did not wish it to be used by certain people and they refused, different to the requests of the banks, to allow accountless operation. This meant that to use DigiCash effectively, everyone has to have an account with a DigiCash supporting bank. This disadvantaged the customers of the privacy DigiCash was supposed to provide and created simulated to people who wished to use DigiCash.

Furthermore, DigiCash was too good a technology, too high-tech and over-developed. When it encountered real on-line behaviour this made it impossible to change the technology to reflect those different interests, not because it wasn't good enough, but because it was so well constructed that nobody dared to use with it.

Many of the major new technologies have undergone series of deep changes under the influence of multiple non-technical and just think of history. But, the micro-payments are being promoted by IBM and Digital/Compaq, companies that can also mobilize very significant resources. By the time when these technologies appear on the 'market' most of the major decisions will already been made.