It’s slightly surprising to me this hasn’t happened already.
Who has time to ferret around for cash and coins these days…?
It’s time for (pardon the pun) CHANGE
A card that can have up to $50 (only) loaded on it for spending anywhere there is EFTPOS accepted (most places now). No signature. No PIN.
* Most people don’t take out cash that often anymore and there are EFTPOS machines pretty much everywhere
* Less change, less time, more customers, more profit, less waiting and less awkward silences while you fumble with receipts and coins
* If you lost the card it wouldn’t matter – it would be the same as losing cash in your wallet or dropping a note somewhere
* It doesn’t even have to be linked to your name/details. You could simply deposit against the number written on the card by BPAY or bank transfer so even if someone does get a hold of it – they can’t even trace it back to you.
* You may even be able to use the card for small credit card payments when you would rather not put your normal credit card online (for small one off purchases)
* You could upload payments from your phone if you have 3G – so it’s not hard to reload.
* It could be used on public transport etc too – less time waiting for people to get the right change or scrambling around your house for coins for the bus…
If a bank did this they could charge
* a fee for the card e.g. $5 AUD
* a minimal fee every time the card is loaded e.g. 0.5 percent
Filed under: Ideas, business, cards, cash, money, profit, promotion, public