Prepaid Cards are an alternative to carrying money about. Funds are been deposited in prepaid cards when they are newly acquired and subsequently topped up when the funds are been exhausted. Therefore, it is pay before. The cards are also used to buy online because they are have no credit cards. The cards are good for budgeting and also helps in reducing spending.
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.
Prepaid cards can be from a third party who deposit money onto the card after presenting receipt for the deposit. Therefore, having a prepaid card does not necessarily mean one must have a bank account with a corresponding bank.
Various Types of Prepaid Cards Prepaid cards are in diverse types, each having it own purposes and uses for every customer. The main types of prepaid cards are:
Travel prepaid cards: This type of card is designed for traveling purposes basically, to a foreign country. They support foreign currency. Business prepaid card: Designed for employees to control their excessive spending.
Foreign prepaid card: This card carries one or multiple foreign currency. Student prepaid card: Often pre-loaded by an adult and given to a student to enable him/her spend from the card.
Foreign prepaid card: designed for foreign currencies. It could be loaded with one or more foreign currency. Student prepaid card: Usually pre-loaded for students so they can spend directly from it. Payroll prepaid card: Designed for employees for the payment of salary. It is loaded up by employers as a paycheck for the employees.
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.
Finally, co-branded prepaid card can help to promote the awareness of the issuing company and the third party provider. Prepaid card brings about convenience for the card holder.
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.
Prepaid cards can be from a third party who deposit money onto the card after presenting receipt for the deposit. Therefore, having a prepaid card does not necessarily mean one must have a bank account with a corresponding bank.
Various Types of Prepaid Cards Prepaid cards are in diverse types, each having it own purposes and uses for every customer. The main types of prepaid cards are:
Travel prepaid cards: This type of card is designed for traveling purposes basically, to a foreign country. They support foreign currency. Business prepaid card: Designed for employees to control their excessive spending.
Foreign prepaid card: This card carries one or multiple foreign currency. Student prepaid card: Often pre-loaded by an adult and given to a student to enable him/her spend from the card.
Foreign prepaid card: designed for foreign currencies. It could be loaded with one or more foreign currency. Student prepaid card: Usually pre-loaded for students so they can spend directly from it. Payroll prepaid card: Designed for employees for the payment of salary. It is loaded up by employers as a paycheck for the employees.
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.
Finally, co-branded prepaid card can help to promote the awareness of the issuing company and the third party provider. Prepaid card brings about convenience for the card holder.
About the Author:
The writer enjoys to inform information to co-branded card programs and is dedicated to helping people and businesses embrace the opportunities in the world of payments with prepaid credit cards.
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