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Casual Articles - What Will Replace Cash for Small Payments?
The Security Consultant's Perspective...Implementing Personnel Security Initiatives should be the objective of every change agent, security director, human resource director, facility manager and safety manager. Key to the assurance of who gained access to your facilities is the knowledge of having a centralized identification system that allows for verification and retrieval of historical data through collaboration by the team mentioned above. I believe a solid ID Badge System is your first line of defense against fraud, theft, espionage, violence, sabotage and other identity-related threats. Such systems are specifically designed to reduce one's security vulnerabilities and increase your control over visitors, vendors, contractors, delivery personnel and employees and are not difficult or expensive to implement.Violators Seeking Access Are Creative...Individuals wanting access will stop at nothing and stoop to anything including compromise of
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-bas
Suppose you’ve made the effort to decide what kind of people you’re seeking for your business, and you’ve even gone to the trouble of making sure you hire staff who match those criteria. Is that enough? No it’s not. As the business leader, your last critical activity is to build staff into a team, and there are four areas you should address to accomplish this.TELL ‘EM WHAT’S GOING ON Whether a business is large or small, communication is always at the top of staff complaints. Most bosses assume this means they should talk more, but that’s only a small percentage of it. When you hire good people, one of the characteristics that makes them “good” is that they want to know they’re making a difference. How will they know they are doing that? They’ll know it when you build a system to keep them abreast of how the business is doing. Now, you don’t have to tell them everything, but you should keep them informed of the important stuff. “Like what?” you a
To sell digital content, a different payment method is required. In the early days of the internet, developers created ?e-money,? enabling consumers to purchase low-cost items online from a website supported by the e-money provider. However, there was the potential for fraud on the part of the e-money providers, to whom consumers supplied their credit-card numbers in exchange for tokens.
Many of these early attempts to create e-money mechanisms for managing micro-payment transactions schemas met with business failure (e.g., early micro-payment vendors such as Flooz, Benz, Digicash). Even for feasible business cases, the failures often occurred because the merchants had to implement additional hardware/software requirements, and the customers had to prepay. It was simply too difficult to implement, and not worth the (then) small revenue streams from the internet.
But the situation is much different now. New micro-payment services allow customers to set up online accounts tied to their chequing and savings accounts, thereby reaching a whole new segment of customers without credit cards. Micro-payment also has another future as a replacement for cash to pay for goods and services at shops, cafes, bars, libraries, printers, pharmacies, sports centres, photocopying and laser-printing shops, as well as for bus and taxi fares, or for any purchase in which coins are used.
What are evolving from the early attempts are three distinct micro-payment schemas:
- The Retail Model which utilizes a stored value system
- The Telco Model which leverages the telcos? billing system
- The Financial Model which uses a multi-application smart card with an e-purse
The Retail Model - Stored Value Systems
The principal of the stored value systems is based on the micro-payments schema: store value accounts are connected to a credit card in which a consumer has to load credits in order to make a purchases, or connected to a stored value account that accumulates payments and makes authorizations based on increments.
With a stored value system, the consumers need to register for the services online or by phone; they have to provide a credit card number and load a balance. In order for the consumer to be able to make re-loads, the system needs to remember his or her information. Stored value systems are common in the service industry, for example as part of the McQuick service in Canada.
Telco Model - Micro-Payment Billing
The rapid penetration of GSM handsets has already led to a situation in which more individuals carry a telephone than carry a bankcard. Additionally, people tend to have a single mobile telephone from a single operator, whereas they might have multiple bankcards.
This suggests that mobile operators have access to demographic segments not available to traditional financial institutions. By targeting the right demographic group, mobile operators can use their own billing systems to register micro-payment transactions. Pricing wireless applications on a per-use or subscription basis is the best way to appeal to consumers and to give them value for their money. More importantly, separating content fees from transport fees allows carriers to keep all transport revenues while enabling a revenue stream for content providers.
The Financial Model - Smart Card with E-Purse
The smart card uses chip card technology and is designed for secure payments over the internet and mobile phones, and for micro-payments such as those made in fast-food restaurants, movie chains, convenience stores, vending machines, payphones, and on mass transportation and toll highways. A smart card payment scheme can manage low-value and high-value payments. The low-value payment scheme is known as e-purse, which is a cash-like, prepaid scheme, where the user has the choice of making either personalized or anonymous payments.
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-base
I recently found myself being burned out at work and so I decided to instill some much needed HUMOR into my personal and professional life. I had been a sales executive for the last 15 years, I was making a very comfortable living and everything looked great on the outside, but on the inside I was certainly doing more crying than laughing. I was on the rode traveling 4 days per week, my marriage was on the rocks and I believe I was suffering from a mild case of depression. That’s when a chance encounter with a stranger changed my life.At the time, I was employed as a Sales Director for Boca Research and I was responsible for our company’s booth at Comdex in Toronto Canada, the largest computer show in the country. I flew up a few months early to interview several special events companies to develop ideas and a theme for the show. I had always used humor as an effective business and communications tool and I wanted to employ a firm that would invent a creative
But the situation is much different now. New micro-payment services allow customers to set up online accounts tied to their chequing and savings accounts, thereby reaching a whole new segment of customers without credit cards. Micro-payment also has another future as a replacement for cash to pay for goods and services at shops, cafes, bars, libraries, printers, pharmacies, sports centres, photocopying and laser-printing shops, as well as for bus and taxi fares, or for any purchase in which coins are used.
What are evolving from the early attempts are three distinct micro-payment schemas:
- The Retail Model which utilizes a stored value system
- The Telco Model which leverages the telcos? billing system
- The Financial Model which uses a multi-application smart card with an e-purse
The Retail Model - Stored Value Systems
The principal of the stored value systems is based on the micro-payments schema: store value accounts are connected to a credit card in which a consumer has to load credits in order to make a purchases, or connected to a stored value account that accumulates payments and makes authorizations based on increments.
With a stored value system, the consumers need to register for the services online or by phone; they have to provide a credit card number and load a balance. In order for the consumer to be able to make re-loads, the system needs to remember his or her information. Stored value systems are common in the service industry, for example as part of the McQuick service in Canada.
Telco Model - Micro-Payment Billing
The rapid penetration of GSM handsets has already led to a situation in which more individuals carry a telephone than carry a bankcard. Additionally, people tend to have a single mobile telephone from a single operator, whereas they might have multiple bankcards.
This suggests that mobile operators have access to demographic segments not available to traditional financial institutions. By targeting the right demographic group, mobile operators can use their own billing systems to register micro-payment transactions. Pricing wireless applications on a per-use or subscription basis is the best way to appeal to consumers and to give them value for their money. More importantly, separating content fees from transport fees allows carriers to keep all transport revenues while enabling a revenue stream for content providers.
The Financial Model - Smart Card with E-Purse
The smart card uses chip card technology and is designed for secure payments over the internet and mobile phones, and for micro-payments such as those made in fast-food restaurants, movie chains, convenience stores, vending machines, payphones, and on mass transportation and toll highways. A smart card payment scheme can manage low-value and high-value payments. The low-value payment scheme is known as e-purse, which is a cash-like, prepaid scheme, where the user has the choice of making either personalized or anonymous payments.
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-bas
You've created your company identity through a good logo, great! Now it's time that you'll have to create a tag line that will seperate your business from all others and resonate in your customers minds.A tag line should be a 3-7 word phrase that accompanies your logo. The tag line will express your companies most important benefits or services. These will be the words that linger in the minds of the customer throughout the day and whenever they refer your business.Great tag lines shouldn't be too complicated. Overly wordy tag lines never succeed. The best tag line in the world is one that is unique and rolls off your tounge. Your tag line should also appeal to your line of business. Some upscale companies such as Abercrombie and Fitch, Swatch, and BMW had to create unique tag lines that show that their products are of superb quality to help reason their high prices. In addition, their tag lines help resonate the human desire for luxury and admiration.<
The Retail Model - Stored Value Systems
The principal of the stored value systems is based on the micro-payments schema: store value accounts are connected to a credit card in which a consumer has to load credits in order to make a purchases, or connected to a stored value account that accumulates payments and makes authorizations based on increments.
With a stored value system, the consumers need to register for the services online or by phone; they have to provide a credit card number and load a balance. In order for the consumer to be able to make re-loads, the system needs to remember his or her information. Stored value systems are common in the service industry, for example as part of the McQuick service in Canada.
Telco Model - Micro-Payment Billing
The rapid penetration of GSM handsets has already led to a situation in which more individuals carry a telephone than carry a bankcard. Additionally, people tend to have a single mobile telephone from a single operator, whereas they might have multiple bankcards.
This suggests that mobile operators have access to demographic segments not available to traditional financial institutions. By targeting the right demographic group, mobile operators can use their own billing systems to register micro-payment transactions. Pricing wireless applications on a per-use or subscription basis is the best way to appeal to consumers and to give them value for their money. More importantly, separating content fees from transport fees allows carriers to keep all transport revenues while enabling a revenue stream for content providers.
The Financial Model - Smart Card with E-Purse
The smart card uses chip card technology and is designed for secure payments over the internet and mobile phones, and for micro-payments such as those made in fast-food restaurants, movie chains, convenience stores, vending machines, payphones, and on mass transportation and toll highways. A smart card payment scheme can manage low-value and high-value payments. The low-value payment scheme is known as e-purse, which is a cash-like, prepaid scheme, where the user has the choice of making either personalized or anonymous payments.
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-bas
Every Affiliate Marketing Opportunity At Your FingertipsMaking the decision to start up a web-based business is one of the best ways to take your financial future into your own hands. The dream of starting your own business is finally coming true and when you learn to take full advantage of your website by making use of every affiliate marketing opportunity available, your dreams will come within reach. Every affiliate marketing opportunity you take advantage of when building your website presents a potential windfall of earnings that all start with a few links.Every affiliate marketing opportunity you take advantage of is basically pure profit. Utilizing space on your personal or business webpage you can earn money by simply placing a few links or banner adds that will transport visitors to your partner sites. Many partners pay per click through while others pay for successful referrals and even offer revenue sharing and bonuses for large volumes of co
This suggests that mobile operators have access to demographic segments not available to traditional financial institutions. By targeting the right demographic group, mobile operators can use their own billing systems to register micro-payment transactions. Pricing wireless applications on a per-use or subscription basis is the best way to appeal to consumers and to give them value for their money. More importantly, separating content fees from transport fees allows carriers to keep all transport revenues while enabling a revenue stream for content providers.
The Financial Model - Smart Card with E-Purse
The smart card uses chip card technology and is designed for secure payments over the internet and mobile phones, and for micro-payments such as those made in fast-food restaurants, movie chains, convenience stores, vending machines, payphones, and on mass transportation and toll highways. A smart card payment scheme can manage low-value and high-value payments. The low-value payment scheme is known as e-purse, which is a cash-like, prepaid scheme, where the user has the choice of making either personalized or anonymous payments.
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-bas
Most small business owners have heard of direct mail marketing, but may not really know what it is. And there’s good reason to consider direct mail to promote your small business.It’s versatile, effective and affordable. It allows you to give prospects one-to-one direct attention, and it allows you more control over growth than nearly any other type of promotion.Direct mail marketing is one of several types of direct response copywriting. I suppose it’s somewhat confusing, but most tend to think of the two terms as interchangeable. There is however, a subtle difference.Direct mail marketing can be defined as one-to-one communication sent by mail directly to potential clients with the goal of specific action by the recipient. Direct response copywriting is basically the same thing, but isn’t limited to snail mail delivery.Direct Mail Marketing is VersatileDirect response is one of the most versatile forms of small busine
Purchases can be made on the internet by a smart card reader that connects to a PC. Secure internet payments may be made just as they are in shops which use this device. The internet merchant uses a terminal which is similar to a normal shop merchant?s, and payment and collection are made in the same way.
An example of an intra-regional standard for cash is the NETS Singapore CashCard under the Visa Cash brand, which has been implemented in Singapore, Philippines, and Korea, and recently in Thailand.
Standards are required to develop nation-wide smart card?based electronic purses that operate on a regional basis. Coupled with the possibility of location-based services driven by the mobile telephone network, the mobile telephone operator is well positioned to market goods and services to consumers on a one-to-one basis.
Conclusion
There are a number of challenges facing the retail banking sector today. The tradition of providing a customer with account access via a cheque or magnetic striped card is no longer the way to attract or retain ever-more-discerning consumers. Escalating card fraud and new delivery channels have changed the business landscape forever.
Micro-payments tied to a chip card could be a winner. The trends indicate that the most feasible solution?and the one increasingly embraced worldwide?seems to be the smart card, a plastic card which stores all personal data in its embedded microchip and which can be used for many functions, thereby doing away with the need to stuff wallets with many other single-function plastic cards. Another factor is the migration of credit and debit cards from magnetic strip to EMV, which allows these cards to be used seamlessly for micro-payments.
The users have already been educated. They know how to use plastic cards, and using smart cards would be the same, but common standards are important. The added advantage with a chip card is that a loyalty feature can be added to the chip, a natural extension which none of the other micro-payment methods can handle well.
There are some issues associated with a smart card schema. For example, security needs to be foolproof: once a card has been breached, the cost of replacement is high. Security costs money, and so smart cards tend to be more expensive than other methods.
With the stored value system, the problem is user acceptance. Users have to manage their own accounts, and if there are many different service providers the user has many accounts to manage. In order for a real stored value system to work, the banks have to get behind it and adopt a standard which merchants can sign up for.
The success of the mobile operators will depend on the number of merchants or content providers who adopt the operators? billing systems. In order to attract customers, merchants are offering phone-customization features such as ring tones, games, screen savers, and music. It is a good market, but the real adoption will happen only when merchants can accept payments.
The retail model will see minimum success. Large retailers might develop loyal customers who would use smart cards or a stored value system offered by a financial services organization.
Over the next few years it will be interesting to see which technology will demonstrate staying power and be adopted by consumers.
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