The Application of Pre-Paid Cash Card for Consumers

A stored-value card represents money on deposit with the issuer, and is similar to a debit card. One major difference between stored value cards and debit cards is that debit cards are usually issued in the name of individual account holders, while stored value cards are usually anonymous.

The term stored value card does not necessarily mean the funds data is physically stored on the card. In many cases the data is maintained on computers affiliated with the card issuer. The value associated with the card can be accessed using

• ~ a magnetic stripe embedded in the card, on which the card number is encoded,
• ~ ratio-frequency identification (RFID), or
• ~ by entering a code number, printed on the card into a telephone or other numeric keypad.

The Touch ‘n Go smart card is used by Malaysian toll express way and highway operators as the sole electronic payment system (EPS). The credit card sized smartcard is mainly used for toll way fares. It is designed to ease the queue congestion at toll plazas and some drivers use together with SmartTAG (a non-stop electronic toll collection system).

Besides, the card can be used as an integrated ticket in Kuala Lumpur public transport system. So far, there are 3 companies had implemented the card into their fare collection system which are Rapid KL, KTM Komuter, and KL Monorail.

The Oyster card is a form of electronic ticketing used on:

• ~ Transport for London, and
• ~ some National Rail services within the Greater London area of the United Kingdom.

It is the same contactless smartcard as Touch ‘n Go card in Malaysia. The technology used for the oyster card is known as RFID, which is the same technology used in other electronic pass cards used all over the world, like Japan’s Suica fare cards.

The Octopus card is a rechargeable contactless stored value smartcard used to transfer electronic payments in online or offline systems in Hong Kong. It is launched in September 1997, and 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.

It has been internationally recognized, winning the Chairman’s Award or the World Information Technology and Services Alliance’s 2006 Global IT Excellence Award for being the world’s leading complex automatic fare collection and contactless smartcard payment system, and for its innovative use of technologies.