The application of pre-paid card for consumers

A prepaid cash card is a payment card that similar with credit card or debit card. It gives users the ability to purchase goods without paying by cash. It different with credit card or debit card, it contains a concept of “pay now, spend later”. It means users must firstly load money onto the card then only spend it when make a purchase.

There are some popular prepaid cash card frequently being used, such as in Malaysia -Touch n Go, Singapore - ez-link card and Hong Kong - Octopus Card. Touch n Go is an electronic purse that can be used at all highways in Malaysia, major public transports in Klang Valley, selected parking sites and theme park.

The benefit of using Touch ‘n Go are increasing the speed of paying, eliminating debt risk which it has no credit or overdraft facility. It ensuring users won’t overspend and prevent users using “future money”. Moreover, it provides users a convenient way to pay transportation fees. By just load on money to the card and simply scan it to a machine for passing road tolls or paying LRT fees without long wait in queue at the cash lane. And it can protect our personal safety from carrying cash in hand.

The balance of the Touch ‘n Go can be reload at toll plazas, train stations, Automated Teller Machines(ATM), Cash Deposit Machines, Petrol kiosks and at authorized third party outlets.