The application of prepaid cash card for consumers

A prepaid cash card is a new idea that looks similar like debit or credit card. This card is very useful which can be used to make payment for goods and services and even to withdraw money. When the consumers want to use the prepaid cash card, they need to preloaded money onto the card. So, before they start to use the prepaid cash card, they can preload at Post Office, at Payzone or PayPoint terminals, bank transfer and etc. It is benefit for all the consumers because can have better control over their finance and reduce the risk running into debits.

There are a lot of advantages of prepaid cash card which consumers no need carry large amount of cash and targeted by criminals when they travel from place to place. Prepaid cash card can be replace the new one and prevent the consumer from unauthorized transaction even when it was stolen or lost. Besides that, it is also very convenient that people no need to have a credit check or ChexSystems check to secure a card. It allows these people to be able to have more versatility with their spending. The best benefit is consumer don’t have to worry about the extra charge over their card because preload sum of money is the maximum amount that can be charge to the card. People can apply for prepaid cash card, so they will become easier and safer when making payment such like the following:
i) Shopping online
ii) Paying bills online or over the phone,
iii) Reserving a hotel
iv) Topping up mobile phone
v) Buying groceries and petrol
vi) Traveling abroad
vii) Withdrawing cash from an ATM

Here are the several types of prepaid cash card that usually use by the consumers.


One of the prepaid cards available in Malaysia is the Touch-n-Go card which offered by Rangkaian Segar which is a private company. Originally, the Touch ‘n Go cards were intended to use for toll payments along the Malaysia highways. Now, the Touch-n-Go is most commonly used pay highway tolls, public bus and trains fares, selected parking sires and theme park.
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Octopus is one of the most successful “prepaid card" system. It is started from a transit payment system, and it has become a widely used electronic cash system. It was launched in Hong Kong in Steptember, 2007 which widely used in payment system for transportation, supermarkets, fast food restaurant, car parks and other pint of sale application such as service station s and vending machines that have achieved good outcomes.


PB Utar Debit Mastercard is another example of a prepaid cash card. All Utar students can withdraw money from any Mastercard ATM worldwide. It is very useful that can control the student spending habits and others.

For further information, please refer to:
http://www.onedebit.com/PrepaidDebitCardsOD.pdf
http://www.moneysupermarket.com/c/prepaid-cards/guide/1/