The application of pre-paid cash card for consumers

Prepaid credit/cash card is a payment card pre-loaded with your own money, which you can then use wherever the payment card is acceptable. A prepaid card is not a credit facility, so you do not need to pass a credit check. Even if you have bad credit you are guaranteed to be approved for a prepaid card. Prepaid cars differs from debit card which is linked to your saving accounts and credit card where credits are extended. Its benefits include:

• Safe alternative to carrying cash – just carry a plastic card
• Keep track and control spending – Limit depends on the amount reloaded into the card. In other words, no money no talk!
• Usage – pay bill, purchase via online, withdraw cash from ATM, transfer money and etc
• Portability – usable as long as Visa/ mastercard is acceptable, depends on the type of prepaid card, Replaces traveler’s cash
• Fringe benefits – cash back programmes, points earning

Examples of application of pre-paid cash card for consumers in Malaysia are:

Tune Money Prepaid Visa Card

• First prepaid visa card targeting at students aged 18 and above
• Launched by Tune Money Sdn Bhd ( Related to AIrAsia
• Earns Tune points and has cash back program
• RM 9.99 annual fees + transaction fees per reload charges at selected bank and ATM withdrawals
• Acceptable anywhere where Visa is acceptable
• To apply, go to www.tunemoney.com/publicPageAction.do?value=page.ppc.public.cardbenefits

Red Card

• Launched by Tune Money Sdn Bhd as a complement to Tune Money Prepaid Visa Card
• Prepaid visa card in Malaysia targeting for students aged 15-17
• Works like an electronic wallet which helps parents to keep track on their teenaged kids spending
• online tracking system with online statements which makes it easy for the parents to keep close track of their children's spending.
• Only parents can apply for their teenaged kid.
• Rates are similar with Tune Money Prepaid Visa Card
  
  

AmBank NexG Prepaid Mastercard

• Launched by AmBank
• The Starter Pack currently retails at RM25 each, each starter pack carries discount and cash vouchers worth RM300 and NexG cardholders will enjoy RM10,000 free PA upon registration
• Reload Limit of RM10,000

Touch and go

• Used mainly to pay toll
• Can be used to pay for parking as it substitutes the ticket
• Usable for public transportation payment such as Rapid KL, KTM and LRT provided the machine is functional.

Prepaid calling card

• Used to make both domestic and international phone calls
• No connection nor hidden charges
• Distributed by eCallChina
  

Sources:
http://www.what-prepaid-card.co.uk/features/compare-cards-prepaid.html
http://www.bernama.com/bernama/v5/newsindex.php?id=316556