The application of pre-paid cash card for consumers

This is how prepaid credit cards applications work– You put money on the card, which you can do over the counter, on the phone or online, and then you use the card to make purchases. You can continually put money onto the card if you want, but you cannot spend more than the balance you have left. This means there is no risk of running into debt as it has no credit or overdraft facility. A prepaid cash card looks like a credit or debit card, and gives users the ability to purchase products and services with a card. The total amount will be taken from your card immediately and the transaction is complete.

A popular prepaid cash card is the Octopus Card in Hong Kong. It is widely used in payment system for transportation, supermarkets, fast food restaurants, car parks as well as other point of sale application such as service stations and vending machines.

In Malaysia, we have our own prepaid cash card- Touch 'n Go. The Touch ‘n Go card is an electronic purse that can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme parks.
Therefore with prepaid debit card, it helps in controlling an individual's spending as purchases are limited to the balance in the card or account, making it a wiser option overall.