Nowadays, everyone is so familiar with those Maxis, Digi and Celcom prepaid card as the mobile phone is our daily needs. Yet, how many of us ever heard about prepaid cash card? The concept is basically the same, the only different is the use of mobile phone prepaid card is for us to make a call whereas the use of a prepaid cash card is for us to purchase products and services. A prepaid cash card looks no different with a normal credit card or debit card. Users need to pay a sum of money in advance to increase the amount in the prepaid cash card in order to purchase products and services in the future.
One of the examples of prepaid cash card that is widely used in Malaysia is “Touch’n Go”. Touch’n Go is widely used in Malaysia not just because it can handle all those small amount payment but also give a lot of convenience to its users as it canbe use in many places. Many of the working people owned a car with them, Touch’n Go become very useful when they need to pay the highway toll payment. For those who do not have a car with them, they need to travel by using the public transports, Touch’n Go come into picture in some public transport such as the electronic train and bas that provide Touch’n Go facility. Touch’n Go also provide some privileges to the customer if Touch’n Go is used at certain places, for example A&W, Burger King, Seven Eleven, Caltex and Dunkin Donuts.
Another example of prepaid cash card is the octopus cash card in Hong Kong. The application of this card is almost the same with Touch’n Go in Malaysia. It is used for all type of public transport in Hong Kong as well as the on street payment such as parking payment. Similar with Malaysia, it is also useful in small payment such as payment at convenience store, supermarkets and fast food restaurant.Prepaid cash card also widely used at other country such as the Coinstar prepaid debit card in Canada, Advance Visa prepaid card in America, Just Cash Maestro prepaid card in West Yorkshire and ACE Cash Express prepaid card at United States.
In short, prepaid cash card can prevent user from over spending as the user can only spend the amount that has been preloaded in this cash, therefore no risk for the user to get themselves into debt as it has no credit or overdraft facility.
2 comments:
Hey friends,after reading your blog.now i realise that prepaid cash card is so convenient.but i have a problem which is how if our prepaid cash card get stolen??There is no verification of signature or password when we purchase products or services.How will i face this problem?
In fact, this is one of the disadvantages of prepaid cash card. Is just like our mobile prepaid card, once it is stolen, the amount of money that we debited into the card will gone. The most we can do is to really take care of the prepaid cash card and once it is stolen, we call to that particular prepaid cash card company to stop the card from functionning. At least we still can stop the person who steal the card from using our money.
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