The management of the Global system, the Hong Kong Global card was introduced in 1997 as an electronic wallet for public transportation. It is considered as one of the most successful and mature implementation of contactless smart cards utilized for mass transit payment. It is a vertical card that is 100 mm; its transaction time is as fast as 300 ms and the card have visual and audible indications that confirm transaction. The logo of the card shows a Mobius strip that is shaped like number eight showing the card’s endless potentials. The card’s acceptance and popularity have since extended its Use to nearby retailers. Global cards were enhanced as an automatic fare collection scheme in Hong Kong’s transit system. There are over 9 million Global cards and 150,000 smart watches have been released and over 7 million transactions are recorded on a daily basis, for a daily transaction value of over HK million or HK.5 million. This smart card ticketing system presently includes over 100 service providers, and includes the entire major transport operator such as bus taxi, subway, train, and tram and ferry services. Because Hong Kong’s main transport operators are all working together with the Global card, kiosk are largely accessible all over the city, making it easy for consumers to check the balance on a card and recharge it with cash or electronic payments. However, the sales of this card declined because of the introduction of a new smart card in Hong Kong, it is smaller, multi-purpose and can be Use not hot in transit transactions. In order to save the smart card, Global Smart Card the company modifies the new improved smart card. The size and other physical descriptions of the card remain in order to preserve its identity to the market.
The new product of the Global Card is in the category of improvements when it comes to the degree of new innovative products in the Product Life Cycle. Because there were revisions to the key features and functions of the existing cards. Since the key features and functions of the cards have been improved by the company, it can be said that in the Product Life Cycle is in the stage of product modification.
The firm improved the features and services of the card. The card will now allow the users to pay quickly and conveniently and is accepted by more than 160 businesses and these are:
· Park n Shop, the most popular grocery in Hong Kong, Watson’s, 7-eleven, and Starbucks, McDonald’s and grocery stores honors the smart card.
· About 3,000 soft drinks vend machines in offices, schools and shopping malls have Global scanners. The sales of Global cards rose, as consumers make more impulse purchases when they do not need to Use cash.
· Pay phones, photo booths and many cars parks acknowledge the card; keep the consumers away from carrying change. The card can also be used for admittance to public swimming pools and other leisure centers.
· Nokia has started a wrap for one of their mobile phones that comprises an entrenched Global chip and antenna, allowing card Users to make Use of their phones to make Global payments.
The following are the technology advances of the Global card:
Public/ Consumers
· usable across most public transport
· No need to carry coins-exact fare deduction
· Operates in wallet or handbag
· Reliable and secure
· Flexible recharging methods
· No card cost
· Value recoverable for lost personalized cards
To the Operator
· Reduced maintenance cost
· No card re-circulation cost
· Cash handling
· Fare policy flexibility
· Improved throughput
· Fraud reduction
· Marketing opportunities
Credit:ivythesis.typepad.com
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