The Application Of Pre-Paid cash card for consumers.

The prepaid card is far from a new idea. The concept is basically the same as a prepaid gift card or a mobile phone SIM card and it focuses on making payments fast, easy and convenient without the hassle of preparing for small change or bringing large amount of cash in hand. A prepaid cash card looks like a credit or debit card. It gives the users the ability to purchase products and services with a card, but only up to a certain limit, which is the amount the user has preloaded into the card. This means there is no risk of running into debt as it has no credit or overdraft facility.



One of the prepaid cards available in Malaysia is the Touch-n-Go card. The Touch-n-Go is most commonly used pay highway tolls, public bus and trains fares, selected parking sires and theme park. Recently, the card’s functions have expanded to include making payments at A&W, Burger King, Dunkin’ Donut, 7-Eleven and the Carrefour hypermarkets.

note : http://www.touchngo.com.my/WhatTNG.html

When using for purchasing retail products and services, they work exactly the same way as a credit or debit card. Just simply hand over the card and for authorization, you will be asked to either enter your PIN number (supplied with the card) on an electronic keypad or to sign a payment slip for signature verification which is to be compared and matched to that on the back of the card (if there is no Chip on the card). The total amount will be minus off from the card immediately and thus, the transaction is completed.

To shop online, once you have decided to purchase the product, all you need to do is to fill in your prepaid card details. As long as there is enough cash preloaded into your card, the purchase transaction will be allowed and your item will be shipped to you.

One can simply start using prepaid cash card when money has been loaded on to a prepaid card by cash at a bank, Post Office, at Payzone or PayPoint terminals, bank transfer, through your employer or even by credit card.

Application of pre-paid cash card for consumers includes :

• Buying groceries and petrol


• As a replacement for travellers cheques or travel cash for a low cost alternative to paying for goods and services abroad


• Topping up your mobile phone


• Internet shopping including eBay


• Paying bills


• People who wish to use foreign currency on a holiday


• Newly arrived immigrant, who although already earning, cannot yet obtain credit due to having no credit footprint in the UK


• A person who has a poor credit rating or a history of bad debt who cannot get a credit card