A pre-paid cash card is a stored-value card that allows us to make payment using that card so that we do not need to bring so much cash along with us. We can just transfer the cash to credit in the card and just use that card to do the payment. So, sometimes if we do not bring cash we also can use the card to pay for it. A pre-paid cash card is similar as a debit card. One major difference between pre-paid cash card and debit card is that debit cards are usually issued in the name of individual account holders, while stored value cards are usually anonymous.
Although the pre-paid cash card works almost the same like a credit card, a pre-paid cash card is different because it allows consumers to have a better control over their finance. They must make sure that their card has enough credit before they spend. It is much more convenient and are designed to be used as a safer alternative as compare to cash.
A prepaid cash card can be used to buy things and pay bills, such as utilities, as long as it is accepted in different retailer. The most common pre-paid cash card we can see everyday in
In conculsion, by using the prepaid cash card, it enhances the speed of paying for low value but high frequency transactions. Furthermore, it is also convenient because consumer need not bring a huge amount of cash and waste their time in queuing up in the cash lane to complete the transaction. Moreover, by not bringing huge amount, it can reduce the social problem and reduce the risk of being rob, theft, snatch and others.
By Sze Ying
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