The application of pre-paid cash card

Prepaid cash cards are a recent phenomenon. They have exploded in popularity across America over the last 10 years and are now taking off in Malaysia also. The concept of the prepaid cash card is basically same with the prepaid mobile phone SIM card. A prepaid card looks like a credit or debit card, and gives users the ability to purchase products and services with a card but with a crucial difference is that user can only spend the balance that has been preloaded onto the card. This means there is no risk of running into debt as it has no credit or overdraft facility.

Money can be reload on o the prepaid card by cash at bank, post office or at any Payzone that appoint by the company. When using the card to purchase, the prepaid card works like the credit card. But the difference with the credit card is just that the the total amount that the user purchase will be taken off from the card immediately and the transaction is complete.



The popular pre-paid cash card that use among Malaysian is Touch'nGo Card. Touch ‘n Go uses contactless smartcard technology. The card looks similar to a credit card. User can continue using the card as long as it is pre-loaded with electronic cash. User can reload the card at toll plazas, train stations, Automated Teller Machines, Cash Deposit Machines, Petrol kiosks and at authorised third party outlets.




Other than that, in Hong Kong, Octopus card is the most popular. Debuted in 1997, the Octopus Card instantly became widely used in the public in Hong Kong, as it simplified the transportation payment process to take only a couple of seconds. The usage of the card is can pay the public transport fees, as well as retailers who accept the card such as convenient stores or restaurants.