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Prepaid / e-Purse Solution

e-Purse marketing helps you retain customers – which help you increase profits.

Why e-Purse / Gift Card / Prepaid System?

Prepaid 1

Today a consumer making a purchase can choose from as many as five principal means of payment: cheque, cash, credit card, debit card, or automated clearing house (ACH) debit. In recent years, several major financial institutions have announced to implement another payments instrument—the electronic purse, or stored value card. The electronic purse is a multipurpose prepaid card the size of a credit card. If successful, it might fundamentally alter the way in which people spend money, much as automated teller machines (ATMs) have changed the way that individuals conduct business with banks.

For more than a decade, post-paid / fleet cards have been used in the Malaysia in a variety of single-purpose and limited-purpose applications.

An electronic purse system might work as follows. An operator issues postpaid cards to its customers, who then create a credit limit value to the cardholder’s accounts through a terminal or personal computer with a specially equipped telephone. The electronic purse card might also function as an ATM card or a credit card. When making purchases, customers pass their cards through a vendor’s point of sale terminal. Credit check is required to verify against backend host. Sales transaction records will be credited directly from the cards account and transferred to the vendor’s terminal. After end of each calendar month, statement will be generated for corporate or individual for billing purposes.

'To succeed, an electronic purse system will need to offer enough features of value to its three constituencies— consumers, merchants, and issuers—to induce them to bear its costs.'

The electronic purse should also prove attractive to users. It saves time and money in the handling of cash. E-Purse cards will likely have lower transaction fees than on-line debit cards and, unlike cheques, offer assured payment. In addition, the electronic purse can reduce theft, open new markets, facilitate the collection of market data, and serve as the backbone of customer affinity programs such as frequent flier user or miles.

Issuers of electronic purses can reduce cash handling costs and combat fraud, save on-line network charges, and gain new sources of fee income from merchants and consumers. Of potentially greater significance, issuers can collect “float,” the right to invest and earn interest on the balances their customers hold on electronic purses. As the uses for electronic purses and the number of cards issued multiply, so too will the aggregate balances that consumers carry on the card. The income from float could therefore be substantial.


How e-Purse Could Help Your Business?

e-Purse marketing helps you retain customers – which help you increase profits.

A prepaid system allows you to collect money in advanced and increase Customer loyalty as the card is kept with them most of the time.

'An electronic purse system will provides maximum flexibility and security that best of breed to meet our client’s goals and long term strategy'