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 on the other hand are designed for businesses and partnering companies for their customers. The cards carries the partnering retailers 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.
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.
Payroll prepaid card: Given by an employer to an employee. It is used in paying employee salary i.e paycheck is paid directly on the card.
In addition, having a prepaid card enables the card holder to buy directly from online stores. They can also make order in person or via phone call or from the internet. The prepaid card has a corresponding 14-16 digit number which is required when making order or a non-appearance purchase. The card enables users to set their spending limit. Card holder needs not worry about running into debt as the card does not have a credit check.
In conclusion, co-branded prepaid card is a means to advertise one's business to the outside world. Using a prepaid card is all about convenience.
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 on the other hand are designed for businesses and partnering companies for their customers. The cards carries the partnering retailers 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.
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.
Payroll prepaid card: Given by an employer to an employee. It is used in paying employee salary i.e paycheck is paid directly on the card.
In addition, having a prepaid card enables the card holder to buy directly from online stores. They can also make order in person or via phone call or from the internet. The prepaid card has a corresponding 14-16 digit number which is required when making order or a non-appearance purchase. The card enables users to set their spending limit. Card holder needs not worry about running into debt as the card does not have a credit check.
In conclusion, co-branded prepaid card is a means to advertise one's business to the outside world. Using a prepaid card is all about convenience.
About the Author:
The writer likes to inform guidance 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.. This article, Prepaid Card Programs: How Can Your Company Benefit From It? is released under a creative commons attribution license.
No comments:
Post a Comment