The application of prepaid cash for consumer
What is prepaid cash? Prepaid cash are like debit card and credit card which is using it to purchase product or service. But the way of payment is different, debit card is allowing the consumer to withdraw money to pay for the product from their account and credit card is allow consumer to pay the product without cash and pay it later date. Prepaid card need to reload it before the consumer can use it to purchase the product or serviced.
In second thought, prepaid cash is very useful then the debit and credit card for the consumer. Because debit and credit card can encourage the consumer to overspend the money without the consumer notice. Debit card is using the consumer bank account to pay for the product that means the consumer may spend all his account money without knowing it. And credit card do not require the consumer to pay off the balance each month and this causing the consumer illusion that their has free money but consumer need to pay it off in longer time with interest. But unlike prepaid cash, it can help the consumer to control their budget by putting certain amount into the prepaid cash.
Touch ‘n Go is one of the most common prepaid cash in