$$Electronic Currency$$

Electronic currency (also known as Electronic money, electronic cash, digital money, digital cash or digital currency) refers to money which is exchanged only electronically. Electronic currency has involved the use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic currency. Furthermore, it is a collective term for financial cryptography and technologies enabling it.

In another hand, electronic currency is a representation, or a system of debits and credits, used to exchange value, within another system, or itself as a stand alone system, online or offline. Also sometimes the term electronic currency is used to refer to the provider itself.

Many systems will sell their electronic currency directly to the end user, such as Paypal and WebMoney, but other systems, such as e-gold (E-currency system which fully backed by gold), sell only through third party digital currency exchangers.


Electronic Currency Trading system (ECTS)





ECTS is an electronic currency trading investment platform that offers its clients an efficient way to trade foreign currencies against the strength and weakness of the US dollar. Utilizing its database of historical price patterns and technical indicators, the complex algorithms interwoven into the system allow for the recognition of entry positions with maximum profit potential.

In order to maintain prudent money management, 24-hours stops are put in place to lock in gains as well as prevent heavy losses. There has never been a better time to invest in currency trading than right now.

Related links:
http://en.wikipedia.org/wiki/Electronic_money
http://www.electroniccurrencytradingsystem.com/

***Mobile Payment System in Malaysia~ It's Potentials and Consumers' Adoption Strategies***.

Mobile payment is a payment method that a consumer using a mobile phone to pay for services such as music, videos, ringtones, books, magazines and tickets. It is not using of cash, credit card or cheque.

There are few primary models for mobile payments:

• Premium SMS based transactional payments

This is where the consumer sends a payment request via an SMS text message to a shortcode and a premium charge is applied to their phone bill. The merchant involved is informed of the payment success and can then release the paid for goods.

• Direct Mobile Billing

This is where the consumer uses mobile billing option during checkout at an ecommerce site such as an online gaming site to make a payment.

• Mobile web payments (WAP)

This is where the consumer uses web pages displayed or additional application s/he downloaded and installed on his/her mobile phone to make a payment. It uses WAP (Wireless Application Protocol) as underlying technology. Mobile web payment providers include Billing Revolution, PayPal, Google, Amazon Payments, Luup, Javien, Valista, etc.

Mobile Money is the mobile payment system now available in Malaysia. It also known as Mobile Wallet. Mobile money provides any hand phone users the convenience to pay anyone, anytime and anywhere. 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 allows registered users using only a mobile phone coupled with a 6-digit security PIN (Personal Identification Number) via SMS (Short Messaging Service) to pay for goods and services at anytime, anywhere. It also is a payment service provider that allows users to TAP to Pay (using MM Card) with just one account.

In order to attract the consumers adopt the mobile payment system, we should tell the consumers about the advantages of mobile payment system. There are significant advantages of mobile payments which are provide greater applicability than other payment. It’s because of very high usage and availability of mobile telephones. Because of the wide spread of mobile phones, accepting mobile payments may become more attractive for merchants. In particular of young people, they constitute an important part of digital content demand such as ringtones and games, so payment via mobile phone bills may be the only way for them to purchase goods.

☆The Application of Pre-paid Cash Card for Consumers☆

Pre-paid cash card seem like a credit card, it can be used to make payment for goods and services. Another that, it is same basic concept with the prepaid gift card or a prepaid mobile phone SIM card, because the users need to load the card before they use. It is better controlled over their finance for the consumers.

Pre-paid cash card are populated across America over the last 10 years. It is because it has many benefits for the pre-paid cash card holder. First, you can get it without worrying about your credit history. Second, this card can control your budget and help to manage children’s spending. Third, you are limited to the amount you put on card, so no debt risk. Beside on these three main benefits, pre-paid cash card still got a lot of benefits.

One kind of pre-paid cash card in our country is Touch ‘n Go card that can be used at all highways, major transports in Klang Valley, elected parking place and theme park of Bukit Merah Lake Town Resort. In addition, Touch ‘n Go card can be used to buy such items from 21 outlets (e.g. A&W, Burger King, Dunkin’ Donut, 7-Eleven, Carrefour hypermarkets, and etc.) in the Klang Valley.

Moreover, many same functions card at oversea, for example: Octopus in Hong Kong is more go forward than Touch ‘n Go card that which is more populated and can become an ornament, no just only a card.

Related link:
http://www.moneysupermarket.com/cards/prepaid-cards-guide1.asp
http://www.touchngo.com.my/WhatTNG.html
http://www.octopuscards.com/consumer/en/index.jsp
http://www.octopuscards.com/crystal08/en/index.html
http://ecommerze.blogspot.com/2008/04/using-touch-n-go-card-to-buy-fast-food.html
http://thestar.com.my/news/story.asp?file=/2008/4/12/nation/20902911&sec=nation

Credit Card debts: Causes ad Prevention

First, I going to explain what is credit card then after that i will explain credit card debt. Credit card is card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services.

Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards. Debt result when a client of 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. The result of not paying the debt on time are that the company will charge a late payment penalty and report the late payment to credit rating agencies. The late payment penalty itself increases the amount of debt the consumer has.

The causes of credit card debts are:
1. Less Income, More Expenses
It so happens that the main breadwinner of the household loses his job but monthly expenses are not cut down in line with the reduction in income. This obviously leads to a rise in debt. The family is forced to use their credit cards for groceries, utilities and etc.

2. Divorce
Fees for the divorce attorney, division of assets between you and your spouse, proceeds given to children are an easy way to rack up a huge debt. Filling for a divorce may force you to quit working for sometime which leads to reduction in income.

3. 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.

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 decreased grandfather. We all know like is unfair and things can go wrong more easily than going right

5. Underemployment
If you are underemployed meaning you are not getting enough working hours at your job, you should also cut down on your lifestyle to match your current income. Forget about driving a BMW if ou are working only 30 hours a work a week. However, if you are a Financial Controller with a local corporation, then you should think about driving a BMW.

Now, i going to discuss the prevention for the credit card debt. Everyone can apply for credit card but you must know whether you can afford to pay the amount during the bills out.

1. Keep your credit card spending amount that you can pay off and don't go over board with unnecessary purchases. Other than that, you have to plan the budget you going to pay back.

2. If you don't want to have many credit card debt, you can cut out some credit card that you seldom use and left a credit card that has lowest interest rate. Although you have left one credit card, you also cannot keep on purchase items using credit card The credit card is just use when you have emergency thing happen.

3. Other than that, you have to avoid using credit card buying the expensive thing but if the items is necessary then just use it. The most important thing is think nicely before you buy the thing.

References Link:
1. http://ezinearticles.com/?Credit-Card-Debt---Prevention-Is-Better-Than-Cure&id=226244
2. http://en.wikipedia.org/wiki/Credit_card_debt

~prepare by Wendy Lee~