| As the electronic payment being the mainstream of the payments industry, stored-value cards have gradually become an indispensable daily electronic payment instruments now. It not only becomes the primary means of fighting for customers and financing, but also more and more consumers favor the convenience of the cards. At present, regarding to the definition, nature, classification and other basic issues, there didn’t form a consensus. Among them, the main point of the contention is whether the use of stored-value cards should be "strictly forbidden" or "restricted permission". According to our current actual situation, stored-value cards not only failed to be banned, but intensified. Because there are not strict market access system, regulatory policy, legal status to restrict stored value card market, a lot of problems have emerged, such as operating failed, consumers bearing the risk of loss, the public credit crisis, the card within the financial losses, damaging the interests of consumers, no way to guarantee the safety of transactions and so on. All of these issues of have done some adverse effects on social and financial markets.In addition, according to the relative issues appearing on the stored-value market, government and regulatory authorities did not give a clear solution and effective recommendationsBased on theoretical studies of the stored-value card, this paper analyses the stored-value card’s capital operation mode, then finds out the risk issues and proposes practical solutions. At the same time, this paper puts forward policy recommendations on the capital supervision in the stored-value market from the angle of regulatory authorities to promote China’s stored-value market and its healthy development. This paper is mainly divided into four parts.The first part describes the historical development of stored-value cards, definition, classification, basic characteristics, transaction process, causes and the pros and cons analysis. The second part is the summary and status analysis about all various typical representative stored-value cards appearing in Beijing region.The third part is the analysis of prepaid funding operation which is based on empirical studies. Through studying on the "business card" issued in Chengdu (Sichuan Business Link Company), it objectively describes the operation processes about pre-existing funds of stored-value card.The fourth part is a recommended department; and this paper presents some proposals and measurements to strengthen the safety of pre-existing funds of stored-value card.The Topic of this paper is based on research in China’s multi-purpose stored value cards and the extension of its development under the guidance of instructor. This new type of payment card approach, while relatively with short history in China’s development, has amazing pace of development. As a convenient method of payment in the public favor, stored-value card market’s development also has a number of problems which become the focus of the government-related sector, financial regulators and the industry. For the current development of China’s stored-value cards, some scholars believe that prohibition of such cards should be issued as soon as possible to avoid affecting the stability of China’s financial system and monetary policy effectiveness; while some believe that prohibition is a stored-value card issuing. "Palliatives", are the negative response to the decision-making. Stored-value card issuing, management, financial regulation, legal status should be regulated to prompt stored-value card market toward healthy development. I agree with the second view. When the new faces obstacles or bias during growth and development, it should not be simply banned or killed, in particular the development of broad prospects of such a new thing, but be guided to a positive and healthy development. However, our stored-value card development is still in its infancy, many problems need to be resolved, the thought that a master’s thesis will be able to comprehensively analyze and solve all the problems is unrealistic. Therefore, this article has selected the prepaid stored-value card funds to study. Based on empirical research, analyze stored-value card funds advanced mode of operation and capital formation and utilization of precipitation, and propose appropriate solutions.In research methods, the author proposed the structure and content of the research by reading related literature, collected data through the field investigation, evidence collection, anonymous interviews, telephone consultation and so on. On the basis of investigation by adding empirical research, design model for quantitative analysis to make the expression of more in-depth and more theoretical support.This article has some innovation points, because the papers published now haven’t done a comprehensive study of stored-value cards. The innovation points can be conclude as follows:First, this paper tried to proceed from reality and collects lots of information about some typical stored-value cards. All these efforts laid a groundwork for the follow-up study.Second, this paper selected several representative stored value card issuers to conduct interviews and made a complete record of them, such as purchasing card process, payment process, the situation of transfer of funds, profit model, business accounts approach, the company risk management, account supervision and so on.Third, in this paper, the author used the balance of prepaid funds analytical methods and cash flow analysis method to explain the formation process of precipitation capital. After the introduction of empirical studies, the paper suggested three models of calculating the amount of precipitated money.Fourth, the paper also described the financial effects of precipitation funds. In addition, the writer use method of net present value to make investment decisions.Last but not least, the paper presented a novel precipitation money management method which is to establish a special monetary fund.All these studies have not been involved in the existing literature, so we hope this study can provide some references for studying on stored-value cards. |
