The application of prepaid cash card for consumers

Today, prepaid card are becoming mainstream products for consumers in Asia. It was only three years ago that the volume of global Visa prepaid retail sales and cash transactions first surpassed those made using credit cards. Prepaid products are about delivering greater convenience and relevance for consumers.

Consumers in Australia, India and Thailand were the top three prepaid markets in the Asia Pacific last year for transaction volume, accounting for more than 62 percent of the total prepaid retail sales and cash transactions. Below are few examples of prepaid cards:

1. Touch-n-Go


Touch ‘n Go (TNG) card is a multipurpose prepaid card which can be used in public transportation around Selangor and all highway in Malaysia. With the high demand of TNG, applications of Touch-n-Go now are expended towards the retail purchases such as fast food industry and parking fees. Adding on, TNG facilities is placed at both the KL International Airport (KLIA) and Low-Cost Carrier Terminal (LCCT) since February this year. With this facilities available, consumer finds it more convenient in making transactions without taking out much of petty cash in hand.

2. Ezlink


Ezlink is one of the most prominent prepaid card in Singapore. It covers a very wide usage and can be used in different sector service including food & beverage, convenience shops, gaming, government service, health, shopping & retail, tertiary institutions, schools, private bus service and so on. With ezlink ,consumer will not have trouble having too much cash in their wallets.

3. Octopus


Octopus is one of the most successful " prepaid card" system. It is started from a transit payment system, and it has become a widely used electronic cash system. In Hong Kong, most of the people are using Octopus prepaid card in different services including public transportation services, apparel stores, bakeries, car parks, cinemas, convenience stores, fast food chains, household stores, leisure facilities, personal care stores, photo finishing stores, photocopiers, supermarkets, and vending machines. From year 2006, it had expanded its business to ShenZhen and Macau.

4. Oyster Card


Oyster card is known as " Pay as you go" cards. It is used mainly on London transport services. Starting from 2007, Oyster card also can be used to purchase goods and services. The advantage of this prepaid card over paper ticket is Oyster single fares are generally cheaper. Moreover, its credit can be used as you need it and doesn't expire and lastly, having "daily price capping" which will automatically calculate the cheapest fare for all the journeys you make in a single day.

In conclusion, with the advancement of prepaid cards, consumer can enjoy the convenience that it brings. In other words, prepaid cards makes people's lives easier.