The application of prepaid cash card for consumer

Nowadays, prepaid cash card are one of the newest and most interesting financial products on the market, and there are something that consumer should be made aware of. However, many people do not know what prepaid cards are and how it can benefit them. Prepaid cash card is new types of payment that buyers without bringing cash but still can paid for everything. It was different with credit card, it is a type of card such as debit card that contains a concept of “Pay first, spend later”. It means consumer pay money on a card and spend it only when they make purchase or transaction. Consumers prefer prepaid cash card because they acts virtually the same as cash, only with much more security. Prepaid cash cards can be useful for anyone who wants to control their spending but still have the security and usage features of a credit card.

What are the advantages?

The major advantage of a prepaid card is that consumer can easily keep track of their spending and limit themselves to a certain level of spending each month. Also, consumer no need to pay interest and don’t have to go through credit checks to get one. All of the funds on the card are completely controlled by the amount of money you wish to put on it. This means there is no risk of borrowing too much and getting into debt such as credit card function “Spend first, paid later”.

Different images of Touch 'n Go















Most common Prepaid cash card used in Malaysia

In Malaysia, the most common prepaid cash card that Malaysian used is Touch ’n Go card. It is an Electronic Payment System which provide by Touch 'n Go Sdn Bhd (formerly known as Rangkaian Segar Sdn Bhd). Touch ’n Go card are electronic purse that can be used at all highways in Malaysia and major public transports in Klang Valley, selected parking sites and theme park.

Touch ’n Go uses contactless smartcard technology. The electronic card reader will reduce the balance stored inside the card when the card approaches to the card reader. The card looks similar to a credit card. Consumer may use the card as long as it is preloaded with electronic cash. User can reload the card at toll plazas, train stations, Automated Teller Machines, Cash Deposit Machines, Petrol kiosks and at some authorized third party outlets by Touch ’n Go Company. Besides, it is also very convenient because consumer no need to queue and wait at the cash lane to complete the transaction. The reload value that Touch ’n Go Company allow is within minimum value RM20 to maximum value RM500.

Promo with partners:

Ticketless parking:

• Bangsar Shopping Centre
• Sg.Wang Plaza
• Pantai Medical Centre
• KL Sentral
• Pusat Bandar Damansara
• Hospital Pakar Damansara
• Dataran Palma, Ampang
• Megan Phileo Avenue
• One Utama Shopping Centre
• Others

Fast Foods Restaurants

• A&W
• Burger King
• Dunkin Donuts

Convenience stores

• 7-Eleven
• Caltex Star Mart

Hypermarkets

• Carrefour

Cinemas

• Cathay Cineleisure

Where can Reload and how much it charge?

Operator Service Charge

1. Highways = Nil
2. Public transports (LRT/KTM Komuter) = Nil
3. Petrol Stations = RM0.50
4. Banks – ATMs (users must have an ATM account) = RM0.50
5. Banks – CDMs (open to all customers) = RM1.00
6. Third party agents = RM0.50
   

What benefit by using Touch 'n Go?

The cards can be categorize into 4 types:

Prepaid card

Standard card


A standard Touch 'n Go cards fare structure currently available for adult fare for CTS and standard class vehicles with 2 axles and 3 or 4 wheels (Class 1) excluding taxis for toll fare.

Postpaid cards

Fleet Xs card




Biz Xs card



Auto-reload card




Zing Card


The Touch 'n Go Zing is a companion card (works as standard card) that is linked to Visa, MasterCard or American Express issued by participating banks in Malaysia.

Multi-purpose card

MyKad


A value added application for Malaysian identity card as e-purse.

Others countries pre-paid cash card are list as below and they have the same function with Touch n'Go in Malysia:

EZ-link (Singapore)

EZ-Link card is a contractless smartcard based on Sony's FeliCa smartcard technology, used for payments in Singapore especially for transportation for Singapore.It is established in year 2001, it was promoted as a means for faster travel due to speedier boarding times on buses, MRT, LRT, ERP and payment in some public services such as vending machine, food centre and supermarket.

Octopus(Hong Kong)

Octopus card is a rechargeable contractless stored value smart card used to transfer electronic payments in online or offline systems in Hong Kong. It was launched in September 1997 to collect fares for the city's mass transit system, the Octopus card system has since grown into a widely used payment system for virtually all public transport in Hong Kong. It is also used for payment at convenience stores, supermarkets, fast-food restaurants, on-street parking meters, car parks, and other point- of-sale applications such as service stations and vending machines.

Oyster (United Kingdon-London)

The Oyster card is a form of electronic ticketing used on Transport of London and some National Rail services within the Greater London area of the United Kingdom. The card was first issued to the public in 2003 with a limited range of features and there continues to be a phased introduction of further functions. By March 2007 over 10 million Oyster cards had been issued, and more than 80% of all journeys on services run by Transport for London used the Oyster card.