Have you ever use or try pre-paid cash card? Before that, do you know what pre-paid cash card is? Let me explain to you what it is all about. Pre-paid cash card is an electronic card which holds electronic monetary value that substitute for cash and coins for low-value payments. One can use the credits in the card to purchase goods and services from various merchants. More and more people are using it. It is like a credit or debit card, and gives users the ability to purchase products and service with a card but with a crucial difference. Users can only spend the balance that has been preloaded onto the card. This means that there is no risk of running into debt as it has no credit or overdraft facility.
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. It is expanding its business to retail purchase by starting with fast food industry that enables consumers to buy dough nut, burger or fast-food from 21 outlets such as Burger King, 7-Eleven, Dunkin’ Donut. It is imitating the success of Hong Kong’s Octopus Card by setting 5 to 10% of the card holders for retail purchase as current target of the company.
Octopus Card was launched in Hong Kong on year 1997, September. It is a rechargeable contactless stored value smart card to transfer electronic payments in online and offline system. It is widely used in payment system for transportation, supermarkets, fast food restaurant, car parks and other pint of sale application such as service station s and vending machines that have achieved good outcomes.
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