The application of pre-paid cash card for consumers.
Prepaid cash card is a plastic card which provides an alternative payment method to cash when making purchases. Before using, the cardholder need to load funds to his/her card account at a bank, post office, payzone or paypoint terminals. Besides, cardholder also can load the funds by bank transfer or credit card. Moreover, using prepaid cash card has no risk of running into debt because it has no credit or overdraft facility. In addition, prepaid cash card allows consumers to have better control over their finance.
The application of prepaid cash card for consumers are:
- Paying bills - rent, utilities, insurance, car payment, and cell phone bills can be paid instantly.
- Purchase and online puchases can be made without cash.
- Remittance - funds transfer within and across two accounts
- Paying for tolls - use Touch n Go card (prepaid cash card) at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park.
Consumer benefits for having prepaid cash card:
- This payment option quickly and securely moves "Checking Account Like" funds without the hassle or risks involved with paper checks.
- Security features such as personal identification numbers (PINs) also protects consumers against theft and fraud. Consumers prefer prepaid cash cards because they act virtually the same as cash, only much more secured.
- Funds transfer - consumers can conveniently and inexpensively transfer funds to friends and relatives anywhere.
- Bill payment & online purchases -consumers can pay bills and purchase products and services online or through phone calls.
On my opinion, it appears prepaid cash card brings a lot of benefits to the business world, even for daily transactions. Moreover, the customers have a more secured way to spending their money by reloading cash for the prepaid cash card.
References:
http://www.touchngo.com.my/
http://www.onedebit.com/PrepaidDebitCardsOD.pdf
3 comments:
i feel the prepaid cash card is better than credit card cz it can control the spending every week or every month. summore, we is spending the current money at that card. however, credit cash can spend the future money, which can be the debt for us at future..
haha, i think the touch n go card is the best invention for Malaysia. cz i no need waste time for paying the toll. ^0^
agree, i also think pay toll by touch n go card faster than pay toll by coin
the control spending of customer is one of the different between the prepaid cash card n credit card. That's why i also prefer use the prepaid card.
Post a Comment