Prepaid card is used as another means of carrying cash about. With prepaid cards, funds can be deposited in the card. The card holder spend directly from the card and top it up regularly. The prepaid card means that funds must first be loaded on the card before spending from it. Thus, it is referred to as 'pay before'. The cards do not have credit accumulation and can be use to make online purchases. Using the prepaid card will help to reduce unnecessary spending and also have a good budget.
The prepaid card program is very easy to understand and works in a very simple way. The card holders can decide on the amount of money they wish to load on the card but it does have a higher amount limit. As the funds on the card is been used on daily basis, it must be top up from a bank account. It can be top up via sms, phone call, or through a Paypoint.
Co-branded prepaid cards are designed by issuing company for businesses and partnering retailers customers. They carry the business logo and the issuing company logo.
A prepaid card could also be provided through a third party who makes deposit on the card after the suppose card holder must have presented the deposit receipt to the third party provider. Having a prepaid card does no necessarily means that one must have a bank account.
Types of Prepaid Cards There are various types of prepaid cards and they are designed for the different uses and demands of customers. The major types include: Travel prepaid card: This is used prior to traveling to a foreign country. They can be loaded in foreign currency Business prepaid cards: They are designed for employees to limit their spending.
Travel prepaid card: Used when traveling to another country. Foreign currency can be deposited on it. Business prepaid card: Made for employees to curtail their spending. Government prepaid card: Used for the affairs of the government such as paying for insurance, paying payroll, and other kinds of disbursement.
Government prepaid card: Designed for government spending such as insurance, payroll and so on. Gift prepaid card: Given by a third party to customers as a gift. It contains gift amount. They are referred to as non-loaded card.
Student prepaid card: Designed for students. It is loaded with funds for students to spend directly from. Payroll prepaid card: Designed for the payment of employee payroll. It is given as a paycheck to employees by the employer.
Having a prepaid card comes with some benefits which include; having a prepaid card enables the card holder to buy things online, in person, through order, or via the phone. It comes with a 14- 16 digit PAN number which is all that is needed when making a non-appearance purchase. It allows the card holder to set a spending limit, you can control your spending limit. It does not have a credit check thus, the card holder can run into debt.
In conclusion, co-branded prepaid card can help to promote the business of the partnering retailer. Prepaid card enables card holder to make purchases conveniently.
The prepaid card program is very easy to understand and works in a very simple way. The card holders can decide on the amount of money they wish to load on the card but it does have a higher amount limit. As the funds on the card is been used on daily basis, it must be top up from a bank account. It can be top up via sms, phone call, or through a Paypoint.
Co-branded prepaid cards are designed by issuing company for businesses and partnering retailers customers. They carry the business logo and the issuing company logo.
A prepaid card could also be provided through a third party who makes deposit on the card after the suppose card holder must have presented the deposit receipt to the third party provider. Having a prepaid card does no necessarily means that one must have a bank account.
Types of Prepaid Cards There are various types of prepaid cards and they are designed for the different uses and demands of customers. The major types include: Travel prepaid card: This is used prior to traveling to a foreign country. They can be loaded in foreign currency Business prepaid cards: They are designed for employees to limit their spending.
Travel prepaid card: Used when traveling to another country. Foreign currency can be deposited on it. Business prepaid card: Made for employees to curtail their spending. Government prepaid card: Used for the affairs of the government such as paying for insurance, paying payroll, and other kinds of disbursement.
Government prepaid card: Designed for government spending such as insurance, payroll and so on. Gift prepaid card: Given by a third party to customers as a gift. It contains gift amount. They are referred to as non-loaded card.
Student prepaid card: Designed for students. It is loaded with funds for students to spend directly from. Payroll prepaid card: Designed for the payment of employee payroll. It is given as a paycheck to employees by the employer.
Having a prepaid card comes with some benefits which include; having a prepaid card enables the card holder to buy things online, in person, through order, or via the phone. It comes with a 14- 16 digit PAN number which is all that is needed when making a non-appearance purchase. It allows the card holder to set a spending limit, you can control your spending limit. It does not have a credit check thus, the card holder can run into debt.
In conclusion, co-branded prepaid card can help to promote the business of the partnering retailer. Prepaid card enables card holder to make purchases conveniently.
About the Author:
The writer enjoys to provide information to co-branded card programs and is passionate to helping people and businesses embrace the opportunities in the world of payments with prepaid credit cards.
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