Cyber-Bargains

Prepaid cash card is simply means you have to put in certain amount of money into your account and then you can use it via a card to buy stuff. Sounds simple?

The most popular prepaid card in Malaysia is probably the Touch'n Go.

Touch'n Go was introduced back in 1997 and i was the first few people who had this kind of card. Many people were still "alien' to this kind of card which can be used to pay toll. This showed how "ulu" was Malaysian at that time. Cos our neighbor Singapore had this kind of system back in don't know how many century back <---exaggerated!!

This dude had to "gostunt" cos got no enuf credit..Damn it!!

Later, Touch'n Go has expanded its services like we can use it in the bus, train comuter and even pay for parkings in some selected malls.With this card, the speed of paying for low value but high frequency transactions is enhanced and it is also freaking convenient.

We no need queue like them with this card.

However, i find that the conveniency to reload the credit of Touch'n Go is very bad. Yea, we can reload it in certain toll plaza, selected petrol station and some Maybank atm's. But why can't we reload it in the largest 24 hours convenient store in the world 7-11? I hope the management of Touch'n Go heard this and could provide us more places to reload the credit.

The other kind of prepaid cash card emerged rapidly is the Debit card. This card is basically same as the credit card but you can only spend the balance of amount in the account. This means you have to think and check for the balance whereas for credit card, you spend then only you think!

Girls want Credit Card not Debit Card!! Definately a smarter way to control your girlfriend's spending.

With debit cards, there are a lot of advantages for the consumer. We can carry less cash than ever.

Secondly, those kiasi or kiasu people who don't want to overspend or get headache when the credit card statement arrived can have this card.

Lastly, for youngster especially boy who wants to attract chicks can have one too.Because there is a chicks magnet rating which i created myself. But at last, all u gotta have is a Big P!

Chicks magnet--> ATM< debit card< credit card< car< apartment< BIG PENIS

I hope in the future, Malaysian could have a perfect and flawless prepaid cash card system. This could prevent pickpocket crimes from happening.

PS to thief: Sorry thief, i only have few plastic cards for you!!

Money originally is in the physical substance ie, gold, silver and copper. Today, the normal transaction is pay in the form of notes and coins. Besides from the notes and coin currency, currency now has slowly emerged into the form of electronic currency with the rapidly changing computerized world.

Electronic currency refers to the money which is exchanged only electronically. Obviously, this will involve computer networks, internet, and digital stored value. Direct deposit and electronic fund transfer are the examples of electronic currency. Electronic currency will function on the principle that every deal affects only two sides, for instance one is payer, and another is the receiver.

In general, there are two types of electronic currency which are online and offline electronic currency. Online electronic currency means the users need to interact with bank through modem or network in conducting a transaction with a third party. Offline means the transaction conducted need not directly involve a bank. The bank can know what everyone bought, where they bought it, when they bought it, and how much they paid for both online and offline electronic currencies.

In traditional currency system, people need to carry a bag which is full of currency notes, using vehicles for transferring, depositing or withdrawal of funds from one place to another. They may fear of getting lotted when carry this bag. On the other hand, electronic currency system need not fear of getting lotted because the transaction ie transfer fund is carried out online and not physical substance. This can increase in public confidence in using the electronic monetary system.

Other benefits of electronic currency system are convenience, and it able to increase efficiency of transactions ie shorten the transfer fund period. Besides these, it also can create new business opportunities with the expansion of economic activities on the Internet.

Although electronic currency system can provide many benefits as stated above, there is a major disadvantage to electronic currency which is security. For instance, the user of electronic currency system is misplaces his/ her private key. There is a possibility that a person may use it to withdraw funds from the bank. With the private key given, the person is able to withdraw the money. The money withdrawn will never be able to recover back from bank.

The world’s first mobile payment service has been launched in Malaysia. One of the examples is Maxis Fast Tap whereby it integrates mobile payment services which use Near Field Communications (NCF) technology. Its not only allows communication at short range but also offer a wider range of features that enable credit cards. NCF technology offers consumers an easy and convenience way to secure transactions by only using a mobile phone.

Mobile Money is another example of E-mobile payment that addresses the limitation of cash, cheques and credit cards. It enables registered users to pay goods and services anytime and anywhere. The consumers no need to carry money or credit card to make transactions. They only need to use their mobile phone to make online booking such as cinema ticket. By using mobile payment system, it helps to eliminate the hassle to queue up for paying the cinema tickets fee especially during weekends and holidays.

E-Mobile payment scheme are an attractive alternative from both the perspective of cost and convenience. On top of that it also fulfills consumer needs and enables them to search for large number of merchants easily. It has overcome the problem whereby consumers need to shop from one place to another. Also, it abilities to attract a large number of consumers has benefits both merchant and service provider. Even though mobile payment system is still a very new strategy, but I believed that it will gain acceptance of all Malaysian soon as it will bring benefits for our society.

Credit cards debts can say is a common topic nowadays. Almost every one of us would have at least a piece of credit card. But do you really consider about the consequences after having it? Actually there are many factors that would cause someone into bankruptcy but there is also lots of prevention. The following are the causes and the prevention of credit card debts.

Causes:

Saving little or Not at all –

Most of the people do not know how to manage their spending and simply spend on those useless items which can cause to credit card debts. This will force us to pay interest on these purchases every month. So many families accumulate lots of debts is because of poor money management. They not only don’t have a monthly spending plan but also not keeping track of the monthly bills. This would cause us unaware of where our money is going. Besides that, some of the people will spend off their salary once they get it from the employer. In this case, if something unfortunate tragedy happen, he or she surely not enough money to pay for it.

Underemployment – if you are underemployed, this mean that you are working for less than the standard number of hours at your job. In this case, you should match your current income by cutting down your lifestyle. But most of us wouldn’t care so much about this. We will always think that spend first and worry later. So the credit cards debts would accumulate to become more and more.

Less Income, More Expenses – less income meaning that one people are having a low salary with the employment but making large expenses on purchasing. This obviously leads to a rise in debt. Besides that, if the main earner in the house has loses his job but the monthly expenses are not cutting down would force the family to use credit cards for groceries, utilities, and any other things that needed. As a result, credit cards debts automatically increase.

Prevention:

Keep Good Management of Your Finances – what type of scheme can help you become a more prepares and more organized consumer? Yeah, is a well-planned financial management scheme. This can help u to determine your monthly income and needed expenses in your lifestyle. You won’t choose to pull out your credit card from your wallet if you have a good management plan. In addition, you can avoid putting large amount of debts on credit card if you have some savings. You can set up a budget to yourself in order to

keep track of your expenses.

Always Pay on Time – in order to keep away from credit card debts, paying on time is one

of the best solution. Before using a credit card, ask yourself, “Do I have the ability to pay for this?” If you unable to control your finances and manage your card payment schedules, then you should not acquire a credit card. Besides that, paying on time can helps you to prevent from raising interest rate except if you are late paying. In addition, pay double the minimum payment if you can afford it because paying extra will pay your balance more quickly.

Avoid Extra Expenses – this mean that you have to adjust your shopping habits to reduce credit card debt. It is not to spend more, especially on the items that not needed. Shopping at smaller general stores, groceries shops or any nearest shops can help you to prevent from spending more on unnecessary items. But if your aim is the shopping malls then indirectly it can cause your credit card debt to grow. Less go out less spending, less spending less credit card debt.

http://www.3debtconsolidation.com/top10-causes.html

http://www.cardratings.com/howtoavoidcreditcarddebt.html

http://consumereducation.suite101.com/article.cfm/credit_card_debt_solutions