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Benefit of innovation

Benefits to the government

Smart cards provide consumers a safe and effective means of payment and have the following benefits:

  • Reduce the loss and complaints caused by counterfeit money.
  • Lower bank operating cost and the cost for money printing and recycling.
  • Save the cost and avoid the risks of cash management.
  • Follow the trend of promoting electronic money and cashless societies in advanced countries.


Benefits to the user

Smart cards are easy to carry and users do not need to carry small change. In addition, smart cards are programmed to set aside a certain amount of stored value for consumer's use. As a result, not only do smart cards replace cash as a means of payment but they provide users with a means to control personal budget to avoid problems of overspending and credit expansion.The following are benefits to users of smart cards:

  • Do not need to carry small change and thus shorten the waiting time for shopping.
  • Do not need to worry about not having enough small change to shop.
  • Easy to control personal expense with transaction inquiries.
  • Earn reward points for free gifts or services.
  • Avoid credit card information leak.

Benefits to businesses

  • There is no cash involved and the transaction can be fast. Automatic debiting process is quick and the transaction time can be shortened.
  • Money from daily transactions can be automatically transferred to a designated bank to cut down the operating cost and avoid the risks of cash retention in stores.
  • It is easy to balance the account by recorded transaction details.
  • There is no cash transaction avoiding the risk of wrong change or counterfeit bills.
  • Encourage cardholder to consume and expand the business.