Application of prepaid cash card for consumer(week5)

What is a pre-paid cash card?
It is the card which requires you to load funds onto your card and use that money to make purchases and get cash — you are not borrowing moneyfrom a bank or other financial institution. The prepaid credit cards look, feel and work like a credit card but are pre-funded “stored-value” cards. It is easy convinient and flexible.
As a consumer, sometimes we would have facing problem of not having enough cash when we trying to buy somethingthat we like the most. And most of us will thought why don’t we bring a lot of cash so that we won’t be encountering such problem. This thought is unworkable as bringing a stack of cash is inconvenient and dangerous in the unsafe world that we are currently living in. In this situation, pre-paid card is the best tool in helping consumer to solve the above problem . Nevertheless, consumer would not face any overspending risk when using it as we can only spend the value contained in the card. A card that sure serves its purpose if we making budget planning for our expenses.



In addition, pre-paid cash card is faster and easier than using coins and bank notes; no more fumbling for that last little coin that you are certain that you saw in the bottom of your pocket.

In some foreign country like Singapore, they have applied a quite perfect pre-paid cash card system since few years ago. Hence, consumers in that country are not only using it when shopping but also using it for gas metering, car parking, car washing, arcade games, and vending machines.