Application of Pre-paid Cash Card for consumers

What is a pre-paid card? Actually, pre-paid card is like a credit or debit card. The pre-paid cash card is a card that you can use to make purchases by just swap the card on the counter.

Since it is a prepaid card, you need to put money on the card which you can reload at the retail location where you pruchared the card or directly deposit of your checks. Besides, some of the pre-paid cash card can do over the phone or online before you using the card to do any purchases. You can continually put money onto the card if you want to, but you cannot spend more than the balance you have left.

Pre-paid cash cards provide a lot of benefits to the consumers. Pre-paid cash cards applications are best used by consumers who have a poor credit record or by young children. This is because, if the consumer has a poor credit record, the consumer may not be eligible for a credit card, as the credit card companies will not want to take the risk on lending money.

As for younger people, parents can get their kids used to using financial products by getting them pre-paid cash cards and putting money on it, however only in a small increment, which allows them to manage their money and use a cash card from a young age with no danger of getting into debt as you are not allowed to spend more than the balance you have on the card.

Besides that, by using pre-paid cash card consumers can bring less cash to shopping. With this, they no need to worry that the cash being stole by others. With pre-paid cash cards, you are protected from unauthorized transaction if the card is lost or stolen. Furthermore, the cards can be replaced if lost or stolen.


There are few example of the pre-paid cash card, such as, Touch n Go which normally use in major public transports, highways and selected parking sites in Malaysia. EZ-Link cards are another example which is used in Singapore. Another example is Octopus card that used in Hong Kong. It like Touch n Go card, however it can be used in more area compared to Touch n Go. So, most of the Hong Kong person are using this card because it very convenience.