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What is a pre-paid cash card? Is it a credit card or a debit card? Are you confused now? Never mind. I'll explain what is a prepaid cash card actually in this post.
A prepaid cash card is neither a credit card nor a debit card where it doesn't have line of credit. Besides that, it is not a debit card because it is not linked to a bank account with an overdraft facility. We can't borrow money with a prepaid card, we can only spend the money we have loaded onto it.
Prepaid cash card can help to manage your money safer, easier, and cheaper. Prepaid Visa and Prepaid MasterCard work like a checking account where individuals and businesses deposit money and withdraw funds from a protected account. The money is safe in the prepaid card accounts instead of carrying it around in cash. It's very convenient to sign up for a prepaid cash card.
The usages of prepaid cash card are wide. It can be used in many ways as follow:
The usages of prepaid cash card are wide. It can be used in many ways as follow:
Prepaid cash card can be used to make purchases. For example when u go shopping, u do not need to carry a lot of cash around. Besides, it is more secure to use prepaid cash card rather than carrying cash around and it enables the person to start spending according to a budget as well. Apart from that, prepaid cash card can also be used to withdraw cash from ATM without worry about overdrafts because you can only spend what is in your account.
Furthermore, you can use the card to shop & pay bills online, make hotel & car rental reservations, and purchase goods & services wherever Visa or MasterCard is accepted. Besides that, it is more secure to use prepaid cash card rather than carrying cash around and it enables the person to start spending according to a budget as well.
Furthermore, you can use the card to shop & pay bills online, make hotel & car rental reservations, and purchase goods & services wherever Visa or MasterCard is accepted. Besides that, it is more secure to use prepaid cash card rather than carrying cash around and it enables the person to start spending according to a budget as well. 
- Everyday shopping
- Internet shopping
- Topping up your mobile phone
- Paying bills
- Paying monthly subscriptions
- Withdrawing cash from ATMs
- etc.
Example of prepaid cash card that is used in Malaysia is the Touch n' Go. It is used at all highways in Malaysia, major public transpots, selected parking sites and also theme park. User can continue using the card as long as it is pre-loaded. Touch ‘n Go enhances the speed of paying and it is also very convenient because user no longer need to prepare for small change or wait in queue at the cash lane to complete the transaction.
The are two other companies that provide prepaid cash card. If you are interested, do visit the following companies' websites:
i) AccountNow ii) ThinkGlink
Labels: Ker Pei, week 5
5 comments:
This blog post make me understand more about the application of pre-paid cash card well. It's also easier to understand with the examples mentioned.
Thanks... hopefully more people will gain some knowledge about e-commerce through this blog.
This blog post is so good,I had learn more about the function of prepaid card and the explaination for this post is also expressly.
Interesting! and most importantly, easy to understand. good job!
A wonderful explanation on pre-paid cash card. Many of us use this cash card and I hope this post helped us by giving full knowledge on what we are using.. Thanks for sharing the information.
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