Electronic currency

Electronic Money (also known as e-money, electronic cash, electronic currency, digital money, digital cash or digital currency) refers to money or scrip which is exchanged only electronically. Typically, this involves use of computer networks, the internet and digital stored value systems. Electronic Funds Transfer (EFT) and direct deposit are examples of electronic money. Also, it is a collective term for financial cryptography and technologies enabling it.Electronic money also encompasses payment systems that are analogous to traditional credit cards and checks. Here, cryptography protects conventional transaction data such as an account number and amount; a digital signature can replace a handwritten signature or a credit-card authorization, and public-key encryption can provide confidentiality.

ClickandBuy

ClickandBuy is one of the leading payment systems on the internet. More than 14,000 merchants benefit from this complete service in 26 countries, which includes 126 different currencies and 46 different payment methods. ClickandBuy is used by Apple iTunes, Skype, msn, T-Online, Electronic Arts, Meetic, Playboy, SanDisk, Yamaha, UNICEF and many more.

Payloadz

Payloadz offers secure digital goods e-commerce service for anyone who sell downloadable goods online. It provides a service to sell downloadable items such as:
Software, eBooks, music, movies, digital art, manuals, articles, certificates, forms, files, and anything else that can be downloaded.
Paystone Technologies Corporation is a private Internet payment and money transfer company dedicated to providing secure, easy and real time Internet transactions. It is founded in year 2001; Paystone has operations in the United States, Canada and the Philippines with International cash out capabilities in many other countries.

Paystone

Paystone provides an inexpensive online payment method without the risk of chargeback from fraudulent credit card use. Paystone can handle small financial transactions which we called micropayments as low as $0.25. The ability to process micropayments opens a whole new world for entrepreneurs of all sizes. Nowadays, a small business or an individual has a chance to generate revenue from their website quickly, easily and inexpensively. This makes a whole new range of content available to personal account holders. The large online merchant can also realize the full benefits of the Paystone in order to expand and increase the profitability of their business.

Digicash

Digicash’s mission is to create a new personalized dimension to the shopping experience. It transform online incentives into powerful new tools, establishing a strong, high-value connection between consumers and ecommerce companies. The Digicash Wallet, gives merchants a revolutionary new approach for initiating real-time, value-creating coupons and promotions to increase sales, margins, and customer loyalty.Consumers are embracing the Digicash Wallet because it’s fun, easy, convenient and personalized to their shopping needs. Capture the benefit of rising coupon usage without sacrificing profits.

Peppercoin

Peppercoin is a cryptographic system for processing micropayments. Peppercoin Inc. was a company that offers services based on the peppercoin method.
The peppercoin system was developed by Silvio Micali and Ron Rivest and first presented at the RSA Conference in 2002 (although it had not yet been named.) The core idea is to bill one randomly selected transaction a lump sum of money rather than bill each transaction a small amount. It uses "universal aggregation", which means that it aggregates transactions over users, merchants as well as payment service providers. The random selection is cryptographically secure -- it cannot be influenced by any of the parties. It is claimed to reduce the transaction cost per dollar from 27 cents to "well below 10 cents."
Peppercoin, Inc. was a privately held company founded in late 2001 by Micali and Rivest based in Waltham, MA. It has secured about $15M in venture capital in two rounds of funding.Its services have seen modest adoption.Peppercoin collects 5-9% of transaction cost from the merchant.Peppercoin, Inc. was bought out in 2007 by Chockstone for an undisclosed amount.

Mobile payment systems in Malaysia: Its potentials and consumer adoption strategies

Malaysians now can make a wide range of purchase without cash, credit card and cheque.




Hong Leong bank Team Up with the Mobile Money to create Innovation to payment industry


Where the consumer required a mobile phone and can make any purchase in any where any time , whether in car, office and home.


Hong Leong Bank will team up with local Mobile Money international to introduce this innovative mobile payment which allow the consumer tp pay goods and services via SMS.



Maxis and MayBank testing Mobile phone payment


Maxis Communication Berhad is currently trialling a mobile phone multi payment service incorporating credit card and prepaid transit payments with maybank, Visa International and Tounch n Go.

Maxis touch n pay used Near field Communication (NFC) technology with short range wireless connectivity in mobile phone and this mobile phone current available om Nokia 6131 NFC phones.

• Low transaction and maintance costs


• Low startup or sign up fees


• No minumum monthly transaction, No rental fees


• No merchants account required
  
• Selling and buying to anyone , anywhere, & anytime


• Get paid fast and faster turnover in T= 2 days


• Flexible method to Request for Payment:Fixed line, SmS
  
• Good audit trail and secure tivketing


• Marketing & point system opportunity using mobile payment

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Benefit of Mobile PHONE

references : http://www.neowave.com.my/0doc/mobilemoneypaymentsystem.html

The Application of Pre-paid Cash Card For Consumers

Nowadays, there are many types of prepaid cash cards had been offered to the consumers. One of the most successful pre-paid cash card is the Touch 'n Go card. It can be considered as a electronic purse that can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and Bukit Merah Lake Town resort. The card looks similar to a credit card and users can use it as long as it is pre-loaded with electronic cash. Since the card is using the contactless smartcard technology so it can enhances the speed of paying the transactions. The users no need to wait in queue at the cash lane to complete the transaction.



Touch 'n Go Sdn Bhd (formerly known as Rangkaian Segar Sdn Bhd), the operator of this Electronic Payment System has offered several range of Touch 'n Go cards to suit different market needs. Fleet Xs is specially designed to meet the demanding needs of today's business. it is a post-paid corporate Touch 'n Go card that is preloaded with electronic cash. It can only be used at several highways. Fleet Xs require an annual fee of RM30 per card and minimum ten cards per application. Each Fleet Xs is individualised to indicate optional details such as driver's name, company names, vehicles classifications and registration number. Biz Xs is a upgrade version of Fleet Xs which similar to it but it have additional function from the Fleet Xs which it can be used at the selected parking lots at business and shopping complexes that are equipped with Touch 'n Go parking system.

Octopus card was launched in Hong Kong in September, 1997. It is a rechargeable contactless stored value smart card. It is widely used in payment system for transportation, supermarket, fast food restaurant, car parks and other point of sales. There are two types of Octopus which are Sold Octopus and On-Loan Octopus. Sold Octopus are available in a range of collectible designs and are ideal as souvenier. While On-Loan Octopus have 4 categories such as child, adult, elder and personalised.


Other than making payment by using the Octopus card, the users can also used the card as the access card to gain access into a residential area or a building. As each Octopus has a unique ID number, cardholders only need to register their Octopus at the management office, and the ID will stored in the central security system. Many residential estates and commercial offices have adopted Octopus as a security access system, providing added convenience for over 100,000 residents and employees. furthermore, Octopus has been introduced into the school environment with the ultimate aim of making school life easier. Students can now use Octopus to buy foods, make miscellaneous school payments library loan and etc.

EAZYCARD, is the first 'touch and go' IC card for mass transport in Taiwan. Transaction on EAZYCARD are executed by wireless signal transmission through memory IC chips and induction circuits implanted onto the card. Passengers no longer need carrying coins or repetitive ticket purchases. The current scope of applications of EAZYCARD system is on public transport, transport-related services, access control and school campus. It, thus, ehances citizens' convenience in their daily life.

ItzCash card is India's first multi purpose prepaid card. It is a smart option for all, and the safest online and on-mobile transaction instrument that allows you to be in control on your spent. It facilitates online and on-mobile payment for a host of services. ItzCash enables users to perform a variety of transaction like shopping, travel booking, utility bill payment, donation and charity and etc.