The application of pre-paid cash card for customer

Pre-paid cash cards is one of the electronic cash cards which is getting popular nowadays. It is quite similar with debit cards because they both use existing money, rather than borrowing and both of them draw funds from your bank account, usually a checking account. Meanwhile, pre-paid cash card always need a personal identification number to be keyed in for the transaction to be authorized. As such, unless you tell someone about your personal identification number, no one else can ever use your card. On the other words, if it is being stolen by others, we do not need to worry about losing of our money.

Since pre-paid cash cards are considered as the most secure and safe financial transaction cards, it is being widely used by the consumers. Consumers normally use it to make an-online purchases. Once the goods or services offered by a seller through a website are selected, the identification code would be provided to the seller who will then transmits it for verification. If the identification code is associated with the valid and active account as well as sufficient cash balance inside the account, an approval code is sent to the seller and the purchase price of the selective goods or services is debited from the cash balance of the account. In India, more and more people are now using pre-paid cash cards such as Itzcash cards, Done cards and Icash cards to book online train tickets against the earlier days when primarily credit and debit cards were used.

Pre-paid cash cards are also particularly useful for consumers who are doing shopping at the mall or running errand out-station. Consumers generally use pre-paid cash cards like a portable access point to their checking account. They used their card at automated teller machines (ATM) to withdraw funds in cash, deposit funds and even make an inquiry regarding their checking account. This helps consumers from overspending and overdrawing their account.