Prepaid cash card is an electronic cash cards. There are some differences from credit card and debit card. As their name indicates, prepaid cash cards have been pay in advance. Prepaid cash card need personal identification number to make transaction, thus you no need worry when someone steal your information.
Example : Touch n Go
Touch ’n Go as a prepaid card use around us. It is easy and convenient to use like its name touch and then go. Before this, we know that Touch ‘n Go not only for toll fares but also theme park, parking services and common ticket system (CTS) for rail transit system. Nowadays, Touch ‘n Go also applicable for retail payments. Six retail merchants comprising fast food chain A&W, Dunkin Donuts, Burger King, Caltex Starmat, Cathay Cineplexes and 7-Eleven together make up a total 15 outlets for payment purpose. Otherwise, Touch ‘n Go application also applicable for payments at outlets with drive-thru lanes. The purposes for the company continue come out these applications is to increase awareness of customer figure out a cashless society.
Example : Octopus Card
>The Octopus card is a rechargeable contact less stored value smart card used to transfer electronic payments in online or offline system in Hong Kong. The transportation payment process only takes a few second that is very instantly. Before this, Octopus is use to collect fares for the city’s mass transit system and now it can used for payment system for all public transport in Hong Kong. And it also used for payment at supermarkets, fast-food restaurants, convenient stores, on-street parking meters, car parks, and other point-of-sale application.
>In Singapore, EZ-Link is one of the prepaid cash cards that are using from year 2001. EZ-Link is a contact less smartcard based on Sony’s FeliCa smartcard technology. The card commonly use for paying transportation fees in the city-state’s Mass Rapid Transit (MRS), Light Rapid Transit (LRT) and public bus services. Besides that, EZ-Link cards also used for payments in Singapore branches of McDonald’s, supermarkets, food centers and even soft drink purchase from vending machines. Now, some of schools in Singapore also start to adopt this card as a way to mark attendance of students.
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