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Campus Cash Cards -Stored Value
The Store Value Model
FUNCTIONALITY
A stored value cash card model is ideally used as a print and copy cost recovery solution. The addition of vending and over-the-counter point of sale locations is secondary to this model. This makes settlement straight forward and easy to manage.
In a stored value model, cash or unit value is encoded, or stored on the card itself. The primary benefit of this model is there are no remote connectivity requirements for authentication, or no "back end" database is required. All authentication is conducted at the stored value reader. This is a big cost saver in your cost recovery model. The card is considered as a "digital cash" transaction making the user anonymous.
However, as a digital cash card, whoever has possession of the card can use it as long as there is value on the card. Losing a card is equivalent to losing cash. A stored value model should be considered a digital cash solution. Also, since there is no network connectivity to the readers, settlement is more complicated.
Settlement is the collection of transaction data from the cash card devices for use in financial reporting. A basic settlement model involves the collection of accumulated transaction data called meters from all devices used. Basic settlement formula is:
- Cash Deposits
- Less Purchases
- Equals Float: remaining balances on issued cards
Meters are read manually and written in a log book that are then posted in a spreadsheet. Another option is to print the meters from each device using a portable serial cable printer. Again the meters are best entered into a spreadsheet for best accounting practices. Settlement functionality is one of the primary areas to consider when selecting either a stored value or online cash card model.
It All Starts With The Cards
The card itself is made of a high quality plastic, which can have digital cash loaded on to a choice of magnetic or smart card media. Anywhere there is a “charge for use” for equipment or services within the campus, the eXpress Badging “One Card” Solution Card can be used as an alternative to cash.
eXpress badging’s ID cards are custom printed to your campuses specifications. All cards are manufactured to meet the specifications of your campus photo ID system’s dye sublimation printer. As with most campus cards that have existing library barcodes, physical access technologies like magnetic stripe and RF proximity cards, we can integrate our cash stripe or smart chip so that a “One Card” solution is maintained.
For environments that are accessed by the general public, generic campus cards can be distributed at kiosks or over the counter so the self serve model is shared by all.
Whether your cards require custom printing or just blank stock, eXpress badging can deliver high quality cards at competitive prices.
Card Technology Review:
Cash Stripe Overview
Magnetic media is the number one technology being used in cost control systems in North America. To be more specific, the preferred magnetic stripe format is called a cash stripe. A cash stripe is a skinny one-track stripe ideally in the track 4 or 5 position. This is not to be confused with the three-tracked stripe that is used on all credit cards and in physical access systems. The cash stripe is a low cost media and works extremely well in environments that require a repetitive read and write cycle. Magnetic media is still the preferred choice of most installations due to the cost of the finished card..
A "Hi-Co", or high coercivity configured cash stripe that is encoded for use in an ITC Systems' cash card model is very secure. The encoding is protected by encryption technology that is sophisticated enough to eliminate fraudulent attempts of duplication or decoding..
- Industry Standard Media
- Data Storage Capabilities
- Reliable Read Write Media
- Basic Audit Tracking
- Cash Stripe for Stored Value
- ABA Stripe for Account Based Systems
RFID & Smart Chip Overview
The new buzz word in card technology is "RFID", or radio frequency identification, not to be confused with "Contactless". Standard RFID cards broadcast a unique identifier when energized by a compatible RFID reader and are "read only". Contactless or RFID smart cards, goes through an encryption type of authentication before it can be used and have both read and write functionality. Thus, standard RFID cards are not as secure as contactless cards.
RFID and contactless cards are the most ergonomic as they are just held up to a device terminal for authentication. Insertion contact chip smart cards lose the ergonomic classification as they must be inserted and "trapped" before they can be authenticated. Insertion chip cards have the highest level of security along with the highest cost of usage.
Note: eXpress
badging can re-badge all of your personalized ID cards
(with and without photos) so you do not have to place
large runs on your existing printer.
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