The Application of Prepaid Cash Card for Consumers.
Do you ever hear Prepaid Cash Card? If not, you are no longer follows the trend of this era of technology. Prepaid cash cards have come to the financial rescue for millions of people who do not have a checking or saving accounts.
Prepaid cash card is a payment system using a tiny portable card where users can use it to purchase goods and services. It differs from credit card or debit card, but has a same concept. It functions like a stored value card that acts like debit card attached to a checking account. One example of it is EZ-Link card.
EZ-Link card, a contactless smart card used for the payment of public transportation fares in Singapore. This card is generally acts as smart card to pay transportation fees in the city states’ Mass Rapid Transit (MRT), Light Rail Transit (LRT), and also public bus services.
Moreover, EZ-Link card serves a supplementary identification card for students in nationally recognized institutions, national service personnel in Singapore Armed Forces, Singapore Defense Civil Forces, Singapore Police Forces as well as senior citizen over 60 years old.
Furthermore, the application of EZ-Link has been expanded to fast food payments, for instance McDonald in Singapore. Also, some schools in Singapore adopting this card system to mark attendances and payment for foods in the canteen. This benefits students by not carrying cash and parents able to control their kids spending.
In conclusion, prepaid cash card is an alternative to cash which ease today’s life.