Beat of Passion

Prepaid cash card look like a credit or debit cards and they offer the same ability to purchase product and services but with a crucial difference is the prepaid cash card holder can only make purchases with deducted from the card’s available balance. This means no risk of running into debt as it is no credit or overdraft facility.

Example of prepaid cash card - Tough & Go, PB Debit Card, Octopus card and etc

Application of prepaid cash card:
• Withdrawing- can withdraw the amount which has been deposit into the account from the ATM machine, like an ATM card.
• Online Purchase- can purchase any product or make payment through online
• Toll payment- Tough & Go card can pay the toll fee through touch & go counter or smart tag
• Top up mobile phone- can use to top up or transfer the mobile phone credits
• Virtual traveler’s check- can having a low cost alternative to paying for goods and services abroad, also provide safety for bring much cash on traveling.
• Bill payment- can use for pay insurance, packing fees, rental fees, electricity bill, water bill, loan, etc. Eg. UTAR student using PB Debit Card pay student bill
• Transportation fees- can use on the bus, LRT, railway station and etc in Malaysia

References:
Prepaid card
The cash plus prepaid gold MasterCard
Guide for prepaid card