A review on a post on e-tailing from My E-Commerce blog

Hello!I have reviewed a post on e-tailing from My E-Commerce which is Using Touch n Go card to buy fast food in Malaysia will be a reality.Touch’n Go is a smart card used by Malaysian toll expressway and highway operators as the sole electronic payment system. But now, Touch’n Go can be used in

Carrefour

7-11

A&W




Burger King

Caltex Star Mart

Cathay Cineleisure

Dunkin' Donuts


Touch ‘n Go card is an electronic purse that can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park.Touch ‘n Go uses contactless smartcard technology. The card looks similar to a credit card.

User can continue using the card as long as it is pre-loaded with electronic cash. User can reload the card at toll plazas, train stations, Automated Teller Machines, Cash Deposit Machines, Petrol kiosks and at authorised third party outlets. Reload denomination is ranging from RM20 to RM500.Touch ‘n Go enhances the speed of paying for low value but high frequency transactions.

Apart from the speed, it is also very convenient because user no longer need to prepare for small change or wait in queue at the cash lane to complete the transaction. Touch 'n Go Sdn Bhd (formerly known as Rangkaian Segar Sdn Bhd), the operator of this Electronic Payment System, has several range of Touch ‘n Go cards to suit different market needs.

With this one card for all, for example, toll, parking, public transport and theme park. From my point of view, this is a more efficient approach for customers. One of the benefits of using Touch’n Go in fast food restaurant, convenience stores, hypermarkets and cinemas is we do no need to wait for attendant to give you the small change as there is alot of customers who do not have patience. We can save alot of time by having a smooth transaction.
Touch’n Go is easy, fast and convenience to customers, they can touch on the screen and then can pay for the items bought without digging for coins.

Besides that,this is a very good idea to implement Touch’n Go in fast food restaurant particularly during the peak hour time. In hypermarket, consumers need not to queue up for a long time as some of the counters tend to be closed. By using Touch'n Go, consumers can make payment faster and easier. Touch’n Go can easily be reloaded at anywhere anytime. For example, it can be reloaded through Maybank's ATM machine. So try to fully utilised the function of Touch'n Go to reduce traffic congestion especially during peak hours!

Useful link:

1) E-Tailing from My E-Commerce

2) You can use Touch'n Go card to buy burgers by next Saturday

Credit Cards Debts:Causes and Prevention

hi~~welcome to eeeeecom.blogspot again~~ I am going to tell you guys about the credit card debts causes and how to prevent it.

Credit card debts accur when client of a credit card company purchases an item or service through the card system. Debt accumulates and increases via interest and penalties when the consumer does not pay the company for the money he or she has spent.Many families are now experiencing severe financial problems. The problem is it is just too easy to spend money but now people are looking for ways to try and pay off the thousands they owe to thefinance companies. Once this point has been reached then it only remains for some form of relief from the credit card debt to be arranged.

Here's some of the causes of credit card debts:

1. Poor Money Management
Poor money management is one of the best reasons why so many families accumulate lots of debt. Not having a monthly spending plan and not keeping track of your monthly bills makes you unaware of where your money is going. You might be spending hundreds of dollars every month towards items that are useless and have no value in your life, yet you do not realize it. While your money is going towards purchasing useless items, you might also be charging your necessary purchases on your credit card, forcing you to pay interest on these purchases every month.

2. Banking on a windfall.

Spending tomorrow's money today is very tempting. Especially if you believe that tomorrow will come no matter what. A planned job bonus may not be a sure thing. The inheritance that you believe will come your way may not. The lesson is don't spend the money until the check clears.

3.Reduced income/same expenses.

Too often we delay bringing expenses in line with a reduction in income for a host of good reasons and let debt fill the gap. The sooner you adjust to your new reality, whether it be temporary or permanent, the better off you'll be.

4. Hoping to win the lottery
Most people hope to win the lottery but the chances of that happening are 0%. Do not spend tomorrow's saved money today just because you expect a promotion in your job or are expecting an inheritance from a deceased grandfather. We all know life is unfair and things can go wrong more easily than going right.

5. Saving little or not at all

Many people don't understand how money works and grows, how to save and invest for a rainy day, or even why they should balance their checkbook. The schools don't teach it, your parents may not have sat you down and explained it. It doesn't matter. You are responsible for your life and your money anyway. Financial mistakes are increasingly expensive and complicated to resolve.

How to prevent it?

1.Obviously, the easiest way to to stop using the cards altogether as continued use will just compound the problem and make it harder to resolve.

2.Establish a budget and then follow that budget exactly. In other words, don't be tempted to charge that plasma TV to your credit card on a whim when you haven't budgeted for it this month.

3.Get a low interest credit card, if your credit card's interest rate is excessive. The better your credit, the lower the rate for whichy you will qualify.

4.When you can, use cash, not credit! If you carry a balance, use your card for as little as possible -- when you write checks, use a debit card or fork over cash for each purchase, you'll be more conscious of your spending and will end up spending less.

5.Negotiate with credit card companies. The amount of credit card debt in this country has made creditors realize that if they want to get any money back, they have to make deals! If a card charges an annual fee, ask that it be removed. Many cards don't charge a fee, so you can always switch to one of these cards. Most credit cards will remove the fee if you simply ask.

These tips should get you started

Credit card clients need to cut out habits that make you spend more by using credit card.You do not build wealth with credit cards.Prevent it before things getting worst!!

Electronic Currency

Electronic currency is also known as e-money, electronic cash, digital money, digital cash or digital currency which refer to money or scrip that is exchanged only electronically. Electronic currency involves the use of computer networks, internet and digital stored value systems. It may only exist in the cyber world, but that is nothing new about it.

Electronic currency will possible like public-key cryptography and digital signatures make e-money possible. A private key known only to the owner, and a public key, made available to everyone. Whatever the private key encrypts, the public key can decrypt, and vice verse. (You all should know what's public key,private key and how it works as Miss Esther did explain in the last tutorial!)

Examples of how electronic currency are used are such as Hong Kong's Octopus Card system which started as a way to pay for transit payments but has now progressed to an electronic cash system, Singapore's FeliCa card and Netherlands Chipknip which has the same use as Hong Kongs Octupus Card, and Malaysia's Touch 'n Go card.There are two difference types of electronic currency: identified e-money and anonymous e-money (also known as digital cash).

Identified e-money contains information revealing the identity of the person who originally withdrew the money from the bank. Also, in much the same manner as credit cards, identified e-money enables the bank to track the money as it moves through the economy. Anonymous e-money works just like real paper cash.

Once anonymous e-money is withdrawn from an account, it can be spent or given away without leaving a transaction trail. You create anonymous e-money by using blind signatures rather than non-blind signatures. Online means you need to interact with a bank (via modem or network) to conduct a transaction with a third party. Offline means you can conduct a transaction without having to directly involve a bank. Offline anonymous e-money (true digital cash) is the most complex form of e-money because of the double-spending problem.

Electronic currency allows its holder to buy the goods and services that the vastness of the internet offers. An e-currency system may be fully backed by gold (like e-gold and c-gold), non-gold backed, or both gold and non-gold baked (like e-Bullion and Liberty Reserve).

Electronic currency trading can let you to do business and earn only few dollars of investment. In fact, some of the experts will suggest the beginners to start with only a few dollars so that they can first learn the ropes of electronic currency. Besides that, electronic currency trading has a low transaction cost. Unlike other businesses that will eat up your profit with a huge amount of fees, it allows you to do business with minimal fees and give you more profit and money. There are few websites examples that can let people to do e-currency tradings such as MG E-currency, JT GOLD.com

Useful links:

1) Electronic Money

2) Electronic Currency Exchange - Its Time Is Now

3) Benefits of E-Currency Trading

4) E-Money Defined

Mobile payment systems in Malaysia: Its potentials and consumer's

Mobile payments (also known as mobile web payments or WAP billing) is a collection of money from consumer via a mobile device such as their mobile phone, Smartphone, Personal Digital Assistant (PDA) or any other devices. With such application, it does brings advantages to the world of e-commerce and it’s growing steadily in Malaysia as well. Some of examples of mobile payments available in Malaysia are Mobile BlueZone and Mobile Money. To read more about Mobile Money, click here.

Users just need to use a mobile device to pay for goods and services at 24-7.There is no need hustling around the payment counter.As a result, uers would be able to save more time.

Let's discover more about Mobile Money.

Mobile Money is a PIN-based Mobile Payment Solution designed by Mobile Money International Sdn Bhd to address the limitations and bottlenecks created by cash, cheques and credit cards. It unlocks the power of the mobile phone to make payments, allowing registered users to pay for goods and services at anytime, anywhere using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service). This gives the freedom to shoppers to buy products online and pay the merchant using his/her mobile phone without being physically present at the store.

When it comes to online selling, selecting a payment gateway is one of the major obstacles faced by the merchants in Malaysia. There are too few choices available, worse, none of these limited choices are cost effective. This problem has been addressed by Mobile Money, since it allows merchants to take online order without the need for online shopper to disclose their credit card information.

With the existence of this service,it will encourage more consumers to shop online. This will definitely be a great boon to the e-commerce industry in Malaysia. It will surely encourage more merchants to adopt online selling as an extra sales channel which complement perfectly with their offline sales channel to help them sell more of their goods and services.

Besides Mobile BlueZone and Mobile Money, many other companies are also coming up with this concept to cater for their customers convenience. For example, Maxis,HGL Capital Berhad, CELCOM and many more. Maxis unveils mobile payment services news can be viewed here.

Mobile payments services indeed have a vase of great potential and advantage. Consumers feel more comfortable with low-value transactions over such non-traditional means. Common applications such as payment for transportation, parking, restaurants, convenience stores, retail outlets, e-tickets. This helps especially when consumers are in need of cash but doesn’t have any in hand, therefore with mobile payments they do not need to even search for an ATM machine to withdraw the needed money for the payment.

For visual explanation, click here!

Useful links:

1) Is Mobile Banking Really Reducing Poverty? Not Yet, We Argue

2) Mobile is back in the news

3) Nearly Half a Billion Mobile Financial Services Customers expected in 2013