Application of Pre-paid Cash Card for Consumer

Pre-paid cash cards are like debit cards and very different from credit cards in that you can only use the card when there is balance in the card. In other words, you are using your ‘present’ money, unlike credit cards that use ‘future’ money. Therefore, there is no risk that you will spend over budget especially for girls who like to shop.

The main uses of pre-paid cash card:

Control - the purpose of pre-paid cash cards is for the users to be a master of their budget and spend accordingly with their budget.

No debt risk- you do not need to worry about debt risk like using a credit card because you are using money that you have preloaded so you won’t have the chance to spend more than what you have.

Convenience - instead of going around with huge amount of money in your wallet, it is much safer to just bring a prepaid card around. It is also a solution for those who are not able to apply for credit cards. Other than that, it is a very convenient tool for travellers because it can replace travelers checks. They can preload the card before going overseas with a set budget and avoid spending too much.

Actually, pre-paid cash card is very suitable for the young generation who like shopping and traveling because it can help control their budget and let them learn how to manage their money rather than letting the money manage them.