Spark.eCommerce: The application of prepaid cash card for consumers

Jul

The application of prepaid cash card for consumers

Prepaid cash cards are one of the latest innovations by financing companies (Banks). The prepaid card exterior design is quite similar to a credit card, it only differs in function. The card-holder spends money which has been previously deposit by the card-holder or someone else into the card account. In other words, the card holders will be able to make payments for goods and services without the use of actual money as the expenses are deducted straight from the card balance. At the present time, as technology is advancing so fast, more consumers and businesses prefer transacting in methods that involve the less use of actual hard cash as it is faster, safer and everything is automatically accounted for.

Types of Prepaid Cash Cards and their links

The Applications of Prepaid Cash Cards for Consumers:-

It can be use for any purchases of goods and services that provide prepaid facilities. For example payment of utilities, movie and airline tickets, mobile phone and toll expenses , even online shopping .

It is safer for consumers as it saves the trouble of carrying large amounts of money.

Consumers will not have to worry about going into debt as the pre-loaded sum of money is the maximum amount that can be charged to the card.

Transfer and withdrawal of money anywhere around the world depending on the availability of cards service (VISA, MasterCard). Prepaid cards are good alternative to travelers’' cheques. They will probably offer a better rate of exchange as you spend.

There are no credit checks, which means you can get a card without worrying about your credit history.

It isan ideal way to budget and help to manage spending.