The Application of Pre-paid Cash Card for Consumers

There are two types of Pre-paid Debit Cards:
(i) ATM Cards
- designed for payment transactions requiring the secured entry of a PIN at both the Point of Sale or ATM
(ii) Branded (or Signature or full-function) Pre-paid Debit Cards
- can be used for transactions at every respective Point of Sale terminal carrying the Visa or the MasterCard logo (with or without PIN pad)
- can be used to pay bills and purchase online
There are several applications of pre-paid cash card for consumers, such as:-
(a) General Spending Debit Card
(i) For funds security
(ii) ATM cash withdrawals
(iii) Purchase at POS
(iv) Full-function Visa & MC branded Prepaid Debit card can be used for ‘signature-based’ purchases, bill payments and online purchases

(b) Payroll and commission payout Card
(c) Remittance – Funds Transfer within and across borders
(d) Affinity Group Card
(e) Travel Card
(f) Student Card
(g) Gift Card

**These debit cards can be issued to everybody with a valid government issued ID and verifiable address, for instance, “Bankable People” and “Un-bankable People” with:
(i) No bank account needed
(ii) No banking history needed
(iii) No credit check
(iv) Just about everybody approved, no declines
(v) No employment verification needed

Besides, there are also several benefits by using those pre-paid cash card, such as:-
- This payment quickly and securely moves “Checking Account Like” funds without the hassles or risks involved with paper checks
- Security features such as personal identification numbers (PINs) protect consumers against theft and fraud
- Consumers prefer Prepaid Cash Cards because they act virtually the same as cash, only with much more security
- Consumers who make debit card purchases are free of interest charges associated with credit cards
- Funds Transfer – Consumers can conveniently and inexpensively transfer funds to friends and relatives everywhere
- Bill Payment and On-line Purchases – Un-banked consumers can pay bills and purchase products and services on-line or through phone calls



http://www.onedebit.com/PrepaidDebitCardsOD.pdf