Prepaid cash cards are plastic cards, which fall under the pay first category of plastic payments. Prepaid cash cards can be used to make payment for goods and services and even to withdraw money. Before use, the user needs to load the card with a sum of money. This means there is no risk of running into debt as it has no credit or overdraft facility. Prepaid cash cards are designed to be used as a safer alternative as compare to cash.
The prepaid cash card is of use in several ways. For example, we can use it for paying bill, such as rent, utilities, insurance, car payment, and cell phone bills. Besides, we can shop at anywhere as long as the card using is accepted at different retailers, buys fuel at the pump, pay by phone, and shop on the Internet. We also can use it for transferring money - for some prepaid cash card they provide the convenient such as send or receive money via bank wire transfers, between two cards.
The following ar
e some examples of the prepaid cash card:
Touch ‘n Go (TnG) smart card is used by Malaysian for electronic payment system to toll expressway and highway. It is expanding its business to retail purchase by starting with fast food industry that enables consumers to buy dough nut, burger or fast-food from 21 outlets such as Burger King, 7-Eleven, Dunkin’ Donut. It is imitating the success of Hong Kong’s Octopus Card by setting 5 to 10% of the card holders for retail purchase as current target of the company.
Octopus Card was launched in Hong Kong on year 1997, September. It is a rechargeable contactless stored value smart card to transfer electronic payments in online in offline system. It is widely used in payment system for transportation, supermarkets, fast food restaurant, car parks and other pint of sale application such as service station s and vending machines that have achieved good outcomes.
The prepaid cash card is of use in several ways. For example, we can use it for paying bill, such as rent, utilities, insurance, car payment, and cell phone bills. Besides, we can shop at anywhere as long as the card using is accepted at different retailers, buys fuel at the pump, pay by phone, and shop on the Internet. We also can use it for transferring money - for some prepaid cash card they provide the convenient such as send or receive money via bank wire transfers, between two cards.
The following ar
e some examples of the prepaid cash card:Touch ‘n Go (TnG) smart card is used by Malaysian for electronic payment system to toll expressway and highway. It is expanding its business to retail purchase by starting with fast food industry that enables consumers to buy dough nut, burger or fast-food from 21 outlets such as Burger King, 7-Eleven, Dunkin’ Donut. It is imitating the success of Hong Kong’s Octopus Card by setting 5 to 10% of the card holders for retail purchase as current target of the company.
Octopus Card was launched in Hong Kong on year 1997, September. It is a rechargeable contactless stored value smart card to transfer electronic payments in online in offline system. It is widely used in payment system for transportation, supermarkets, fast food restaurant, car parks and other pint of sale application such as service station s and vending machines that have achieved good outcomes.
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