Page 26 - PUBLIC BANK & AIA INSURANCE COMPANY

4.CHARGE CARD PUBLIC BANK
A charge card is a type of electronic payment card that charges no interest but requires the user to

pay his balance in full upon receipt of the statement, usually on a monthly basis. Charge cards are
offered by a limited number of issuers. However, these cards typically include a high annual fee.
A charge card is a branded card that is available for use anywhere the brand is accepted for electronic

payment. These cards have a similar structure and similar features to a standard credit card however
they also have some distinct differences. Most of the charge cards are business and corporate charge

cards, not personal charge cards.
There are few characteristics which are expected to pay the balance in full on the monthly
payment date. There is no interest rate with a charge card, although annual fees and late charges

apply. Lastly, there is no credit limit on a charge card, but that doesn’t give you unlimited spending.
The advantages are paying the balance in full, there is no Limit amount and its easy purchasing.

But for the disadvantages are you don’t pay interest on any money you borrow with a charge card –
but you wouldn’t with a credit card either if you always paid it off at the end of the month and don’t
use it for cash withdrawals. They often have a higher spending limit, or no limit at all, so you can

make big purchases without worrying whether the card will cover it - but you need to be sure you can
afford to repay in full at the end of the month. You can’t borrow for longer than a month. You have to
repay the full bill by the repayment date shown on the statement. You don’t get the option to just pay

part of it, like you would with a credit card. If you don’t pay your bill, you’re in trouble. The late payment
fees are likely to be much more than the interest on credit card debt, and if you’re a repeat offender
your card could be cancelled.

CORPORATE PRODUCT

Electronic data interchange (EDI) is the intercompany communication of business documents in a
standard format. The simple definition of EDI is a standard electronic format that replaces paper-based
documents like purchase orders or invoices. EDI standards define the location and order of information

in a document format. This automated capability enables data to be shared rapidly instead of the hours,
days, or weeks required with paper documents or other methods. The characteristics are it is support
for EDI standard and support for EDI document type. It also supports for communication protocols.

The advantages are EDI technology saves time and money by automating a process previously
manually executed with paper documents. EDI solutions improve efficiency and productivity. More

business documents are shared and processed in less time with greater accuracy. EDI integration

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