Prepaid Card:
Prepaid Card is modern look of
your money packed in plastic pad. Of course, the well known term is “Plastic
Money” all over the world. “Prepaid” the term indicates the preloaded card
which can be used by acquirer terminals to accomplish POS, PIN-POS or ATM
transactions. The Prepaid cards are widely accepted in North America and
Europe. The gradual progress of acceptance of prepaid card all over the world
indicates the new business opportunities.
This is also known as alternative
money pack loaded with money and makes use of purchasing goods and services
anywhere acquirer terminal exists. The money load can accomplish by card holder
or any accompanied (relatives, employer etc.)
Purpose:
1. Purchasing goods and services.
2. Online Shopping, Phone Shopping.
3. ATM cash withdrawal.
4. Gift to relative or close ones.
5. Making payment utility bills
6. Accounting and controlling the expense segment.
Basic Prepaid
Card(s):
1.
Personalized Card – General Purpose Re-loadable Card.
2.
Non-Personalized Card – Travel Card, Teen Card
3.
Instant Issue Card – Gift Card
4.
Instant Issue – Personalized Card – Payroll Card.
Healthcare card.
Benefit:
1.
Associated with Secure Payment system such as
Master card, VISA etc.
2.
Easy to carry anywhere.
3.
No Credit history check.
4.
24x7 online accesses to card holder’s account.
5.
Secure Online Payment support
6.
Easy load and reload (via direct deposit, re-load
network, rePower etc.)
I have started contributing knowledge to spread card payment
fundamentals. Let’s continue reading to read more information in future
uploads.
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