Payment cards are the most advanced ways of making payments for your purchases and transactions. However, they are several different types of cards available to choose from, which include debit cards, credit cards, and prepaid cards.
As far as the similarities are concerned, the issuance and cancellation policy for all these cards is almost the same. However, when it comes to the mode of usage, these cards have their own unique features and thus, their own subsequent advantages.
In this article, we are going to emphasize on prepaid cards in particular. We will see how these are cards are different and more advantageous than the others.
However, there is one major difference between prepaid cards and debit card program and that is: in order to use a debit card, users must have an active account in a bank. On the other hand, for those using prepaid cards, they don't need bank accounts. Rather, a virtual account is enough to proceed.
Like a debit card, it allows customers to access and use their own money that they have in their accounts instantly. However, the user cannot borrow any extra money to make a transaction.
Prepaid cards can be issued by retail stores, who provide such cards for marketing purposes too. These cards are usually affiliated with renowned card program providers such as VISA prepaid card programs, which make them acceptable all over the world.
Since banks are not always involved in the issuance of a prepaid card, it can be availed from a retail store as well. Most stores tend to issue these cards for the sake of marketing their brand.
Since prepaid cards offer no credit, it automatically saves you from the worries of debt and high interest rates.
No credit automatically means that no money will be deducted from your savings as interest.
No credit can be availed via these cards, which eventually saves you from the burden of debts. Plus, no credit automatically means no deduction of interest from your savings.
These cards additionally bring travel benefits and can be used around the world, which means that by using them, you will be free from worries about finding ATMs or carrying cash on trips.
MasterCard and Visa prepaid cards are recognized and acceptable worldwide. Thus, despite the pros that favor debit card programs, prepaid cards remain a worthwhile option for people who want a convenient means to use their money for transactions.
As far as the similarities are concerned, the issuance and cancellation policy for all these cards is almost the same. However, when it comes to the mode of usage, these cards have their own unique features and thus, their own subsequent advantages.
In this article, we are going to emphasize on prepaid cards in particular. We will see how these are cards are different and more advantageous than the others.
However, there is one major difference between prepaid cards and debit card program and that is: in order to use a debit card, users must have an active account in a bank. On the other hand, for those using prepaid cards, they don't need bank accounts. Rather, a virtual account is enough to proceed.
Like a debit card, it allows customers to access and use their own money that they have in their accounts instantly. However, the user cannot borrow any extra money to make a transaction.
Prepaid cards can be issued by retail stores, who provide such cards for marketing purposes too. These cards are usually affiliated with renowned card program providers such as VISA prepaid card programs, which make them acceptable all over the world.
Since banks are not always involved in the issuance of a prepaid card, it can be availed from a retail store as well. Most stores tend to issue these cards for the sake of marketing their brand.
Since prepaid cards offer no credit, it automatically saves you from the worries of debt and high interest rates.
No credit automatically means that no money will be deducted from your savings as interest.
No credit can be availed via these cards, which eventually saves you from the burden of debts. Plus, no credit automatically means no deduction of interest from your savings.
These cards additionally bring travel benefits and can be used around the world, which means that by using them, you will be free from worries about finding ATMs or carrying cash on trips.
MasterCard and Visa prepaid cards are recognized and acceptable worldwide. Thus, despite the pros that favor debit card programs, prepaid cards remain a worthwhile option for people who want a convenient means to use their money for transactions.
About the Author:
Finally, think of how the VISA prepaid cards and MasterCard are accessible conveniently and worldwide. This is exactly why debit card program is a little less favorable among the public.
No comments:
Post a Comment