The application of pre-paid cash card for consumers

What is pre-paid cash card

A prepaid cash card can be explained as a card issued by a bank or building society enabling customers to pay for goods by inserting it into a computer-controlled device at the place of sale, which is connected through the telephone network to the bank or building society. A prepaid cash card allows consumers to purchase something even when they don’t have the cash to pay for it. It benefits consumers in their everyday life.

Applications of prepaid cash card

Prepaid cash card can be used for several applications, for examples :

1. Consumer can shops at anywhere anytime
As long as your account has money, u can shopping at anywhere and anytime just with
a prepaid cash card. The prepaid cash card can be used for shopping in the grocery which
has the machine which accept the applications of prepaid cash card, make a on9 shopping,
pay for phone, buy pump in the petrol station, and etc.

2. Transfer money
A prepaid cash card can let the consumer transfers money to friends or family either in
the local or overseas. Some prepaid cash cards are provide the features that can let
consumer make transferring between two prepaid cash cards via bank wire transfers.

3. Act as a replacement
As a replacement for travelers cheques or travel cash for a low cost alternative to paying
for goods and services abroad. Consumer buy prepaid cash card dominated in the currency of destination, and then use them to withdraw cash at ATMs or buying goods or services. It is indeed a great way to carry prepaid cash card since it is much safer and more secure than carrying a large amounts of cash for travel.

4. ATM
With a prepaid cash card, consumer can make withdrawal at the ATM machines.

5. Pay for toll, parking, LRT
Touch n Go, one of the type of prepaid cash card. This is a useful prepaid cash card that
most of the consumer using it in Malaysia. It provide a lot of convenience for us. It can let
consumer pay toll on the highway, pay parking fees in the shopping mall, even more,
consumer can pay for LRT's tickets rather than waiting a long queue to buy at counter.

What are the benefits of using prepaid cash card?

1.Purchase protection
Mostly of the prepaid cash card now providing the feature of purchase protection and even
better this comes at no extra cost. That means, if the consumer use the prepaid cash card
to purchase goods or services in full and, if goods or services fail to arrive, you may be
entitled to a refund of the money you have spent on them using your card.

2. Free balance alerts
Some of prepaid cash card center is provides the service of informing their consumer how
many balance they still having in the account.

3. To help with budgeting
If you have ever had any concerns about overspending or splashing out, some of the prepaid cash card may provided the answer. You can control your budget, as you pay for what you top up onto your account. That is another special feature that provided by some of the prepaid cash card providers, they will providing the service of helping the consumer to budget their accounts.