The application of pre-paid cash card for consumers.

Why go through the hassle of taking out your money when you can use a much easier way to pay something? Introducing prepaid cash card. Nowadays people are always on the go and rushing towards work. A prepaid cash card with no information about the owner and carrying at least the following information: a unique card identification number in both visible (i.e., humanly readable) and encoded forms, and an encoded unique personal identification number (PIN) for the card owner. A printed receipt issued with the card displays the PIN in visible form. To initiate a transaction the user must give both the card identification number and the PIN.

What is the PrePaid Cash Card Process?

• Complete application
• Send to SBF with minimal startup fee
• Processor prepares card and sends to employee
• Employee gives routing, account number and deposit
• amount to employer
• The PrePaid Cash Card is loaded from future direct

deposit files

How can you use prepaid cash cards?

• Gift card – Send a cash card in their name
• Allowance Card - No Age Issues
• Travel & Budget Card - Manage Payments,
• Book Rooms and Car Rentals
• Commissions Card - Great for 1099 recipients
• Payroll Card
• Teen Card - Give teens purchasing power, no age issues

Credit Card debts: Causes and Prevention

what is credit card debt?
Nowadays, people like to apply credit cards because when go out we no need bring so much cash,we just show them the credit card and we can use it to pay for what we need to buy, very easy and convenient.
Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards.Debt result when a client of a credit card company purchases an item or service through the card system.



causes:
How credit card debt is accumulated?
It's debt accumulated by the consumer that creates a risk for the credit card issuers as no collateral or assets are held against the borrowed funds. Debt accumulates whenever a card holder purchases a service or product through the card. As the consumer purchases more and more goods, the credit card continues to accumulate a debt balance until the credit limit has been reached. Credit limits vary among cards and individuals, as the limit (much like the interest rate) is directly associated with the card holder's credit history. If charges are built up on the card(s) that go over the credit limit. Over-limit charges add to credit card debt and may be subject to interest accrual. Debt increases via interest and penalties when a consumer does not pay their credit card bills on the specified billing cycle. When a payment billing cycle is missed by the card holder, a late payment fee will be incurred. The late fee can be anywhere from $10 to $50 and increases the debt load of the consumer. All missed payments are reported to the credit bureau for filing, affecting the card holder's credit score. If subsequent billing cycles pass and the payments continue to be delinquent, the card holder may be affected by universal default.

Prevention:

• Step1:

Use the calculator, figure out the expenses and incomes. Then list out the fixed expenses such as mortgage, car payment, house insurance, car insurance, etc... We have to figure out where the money is going, and how much is left.

• Step2:

Make a tighter budget for expenses. Cut down in areas where we can cut down.
For example, if we are eating out five times a week, make it two times. If we leave lights on in every room of the house, turn them off! Saving a bit here and a bit there, will add up to big numbers.

• Step3:

Figure out which credit card has the highest interest rate! Try to pay it off first. Add an extra $10 or $20 dollars to it a month to speed up the process if can.

• Step4:

If we could transfer part of the balance from the higher interest company to another, then make the transfer. Be sure to ask how much the fees for transferring will be, and negotiate with them. Sometimes, it is not worth it if the fees are high, and if we don't ask, they won't tell us! The fees will just appear on our statement, and will knock us socks off.

• Step5:

Keep only one credit card for emergency, and cut off the rest. We do not have to cancel all the accounts, just cut them, and put them away. Make sure our emergency usages are actually emergency! our commitment to eliminate debts depends on us.

• Step6:

Use cash for everything! If we do not have the fund for the purchase, then do not buy it.

• Step7:

We can get out of credit card debts with our commitment, determination, and stick to a tight budget. Cut out coupons, use coupons, shop smartly, buy only sale items, and decrease on our spending in any way that we can think of.

The Application of 3rd party certification Programme in Malaysia.

Nowadays, companies in Malaysia are using application of 3^rd party certification program. 3rd party certification program enables companies to do their business in a safe environment. Companies will not have to worry about minor stuff, hence be able to concentrate in their objectives.

An example of 3rd party certification program in Malaysia is MSC Trustgate.com Sdn Bhd. MSC Trustgate.com Sdn Bhd is a licensed Certification Authority (CA) operating within the Multimedia Super Corridor. MSC Trustgate was incorporated in 1999 to meet the growing need for secure open network communications and become the catalyst for the growth of e-commerce. Their services include SSL Certificate, Managed PKI, Personal ID, MyTRUST, MyKAD ID, SSL VPN, Managed Security Services, VeriSign Certified Training and Application Development. Besides that their vision is to provide a more secure entering into the new Internet economy.

Another example is VeriSign, Inc. It is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, our SSL, identity and authentication, and domain name service allow companies and consumers all over the world to engage in trusted communications and commerce. The products & services that they provide are SSLcertificates, identity and authentication services, domain name services, code signing, enterprise security services, internet defense network, content and messaging services, and communication services.

In conclusion, application of 3^rd party certification program is a must have for companies in the ever changing and dangerous cyber world we are in. Be sure that application of 3^rd party certification program will help companies and consumers to engage in trusted communications and commerce.

Related Links:

http://cdp.msc.com.my/guideform/MYISMS/CDPISMS_AppGuidebook_v1.4.pdf

http://www.msctrustgate.com/

http://www.verisign.com/

Phising : Example and its prevention methods

WHAT IS PHISING??

Phishing is an attempt by perpetrator by using computer to acquire sensitive information criminally and fraudulently such as usernames, passwords, credit card numbers, bank account number, account data or other information to invade people privacy.

HOW PHISING WORKS??

Phishing is usually carried out by sending e-mail, instant message, and phone call which the content of the messages will often ask you to reveal your personal information. They will use fake website they have created instead of legitimate one to steal the information from people, the fraudulent email address that they have sent usually redirect to the perpetrator website which is fake so that it looks similar to the original website. Many people may not know this website is real or not, if they are lack of awareness, most probably they will fall into this trap.

The chart below shows that the phishing crime is increasing each month from October 2004 to June 2005.

The most common target for the phishing is Paypal, eBay and online banks are used to let the perpetrator commit fraud. Here is the example of phishing:

a) This is example of phishing targeted at paypal users.

b) Phishing e-mail , disguised as an official e-mail from bank.

c) An example of a phishing e-mail targeted at eBay users.

d) Phishing e-mail from Citibank.

PPPREVENTION METHODS OF PHISHING:
There are a few ways to prevent being a victim of phishing scams. Here are the methods to avoid the phishing scams.
1. If you get an email or pop-up message that asks for personal or financial information, do not reply.
2. Read the message carefully before enter your password or any personal identity to the sender.
3. Examine the link that provided in the email because real email will have a link to original or official websites.
4. Use anti-virus and anti-spyware software, as well as a firewall, and update them all regularly to detect phishing easily.
5. Make sure any received call is really from real banks or right people.
6. Always keep your password and username safe from other people.