The Application of Pre-Paid Cash Card for Consumers

The concept of prepaid cash card is similar with credit card or debit card. It gives users the ability to buy goods and services without paying by cash. Users can only spend the balance that has been preloaded onto the card. At last, users will not run into debt like over used the credit card.

Example:

The most common one of prepaid cash card in Malaysia is Touch ‘n Go. It is easy and convenient for people bring to anywhere. Before this, we know that Touch ‘n Go not only for toll fares but also theme park, parking services and common ticket system (CTS) for rail transit system. Nowadays, Touch ‘n Go also applicable for retail payments. Six retail merchants comprising fast food chain A&W, Dunkin Donuts, Burger King, Caltex Starmat, Cathay Cineplexes and 7-Eleven together make up a total 15 outlets for payment purpose. In addition, Touch ‘n Go application also applicable for payments at outlets with drive-thru lanes. The purposes for the company continue come out these applications is to increase awareness of customer figure out a cashless society. The benefits of using Touch ‘n Go are increasing the speed of paying, eliminating debt risk with no chance to spend too much as the balance is limited to reloaded amount and the card can be used and top up in most of the places in Malaysia.

Another example of Prepaid Cash Card:

In Hong Kong, there are a lot of prepaid cash cards is provided, and one of the most common cards is the Octopus card. It is a credit card sized rechargeable payment card used for a variety of things but is primarily used for public transport such as Star Ferry, Buses, some minibuses, convenience stores such as 7-11, supermarkets, fast food outlets, or public telephone booths. The users just need to bring the Octopus card and no need to carry coins when making the payment. It launched in September 1997 to collect fares for the city's mass transit system. The Octopus card system has since grown into a widely used payment system for virtually all public transport in Hong Kong.


In foreign countries like Singapore, they have developed the performance of pre-paid cash card since a few years ago. The pre-paid cash card in Singapore like POSB MasterCard Debit. POSB MasterCard Debit card is the all-in-one payment card for everything you want to make such as the users can use this card for shopping with friends, treating friends to dinner or enjoying a holiday in overseas. In addition, the users also can enjoy instant access to their money anytime and anywhere.