The Application Of Pre-Paid Cash Card For Consumers

When talk about credit cards everyone know about the application and usage of credit cards. Average every person who is working has one credit card but nowadays a new prepaid cash card introduce in the market or in other words “Debit Card”. A pre-paid cash card system enables customers to make purchases, calls, and to participate in a survey using an authorized card. One of the famous prepaid cash card in Malaysia is Touch & Go. The Touch & Go cards are frequently use in highways. Secondly are the ATM cards. They are designed for payment transaction and withdrawal of money. It needs a secured entry of PIN at the booth.

Other countries like Hong Kong, the peoples in Hong Kong used the octopus cards to pay the public transport fees except for taxis and some public mini buses. Just wave the cards even the cards are inside the wallets of handbags the payment will be deduct instantly.

Besides that there is signature of full function of prepaid debit cards that used for transactions at every respective point of sale terminal carrying the Visa or Mastercard logo.

It can be used for paying bills and the function is same with the credit card. There are many benefits of using the prepaid cash cards where consumers who make debit card purchases are free of interest charges associated with credit cards. Consumers can transfer funds to friends and relatives everywhere and anytime and un-banked consumers can pay bills and purchase products and services on-line or through phone call and consumers may no need to carry cash to go for security reason.
I think that the pre-paid cash cards are benefits to all people besides using credit cards. People may know how to manage their expenses well without using credit cards as we can see that many people are going bankrupt because of credit cards debt.