Recently, Touch n Go card is expanding their applications and services towards the retail purchase starting with the focus on fast-food industry and lately with other industry. The company is forecasting about 5 to 10% of car holders to use the card for retail purchase.
Touch n Go card is very convenient in terms of reducing the burden of wallets full of coins and thick notes. It offers users to top-up smaller amount which might help users to control their expenses compare to credit cards which can be used up to minimum RM1000.
As we look into the other side of the coins, Touch n Go might be inconvenient for heavy spending users. They might continue with their credit cards.
In fact, Touch n Go card is weaker than credit card in terms of security measures by only providing a RFID chips, whereas credit card provides 3 safety pre-cautions including magnetic strip, smart chip and safety number.Another issue is that if we lose our Touch n Go card, the credit inside the card is burned, however for credit card loss, our money is secured in the bank once the lost of credit card is reported to the bank.
In conclusion, Touch n Go card can really save the burden of our pockets and wallets, but they will face many challenges in competing with credit card providers.
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