Why should you consider getting a prepaid card?
POSTED ON: 6 Mar, 2019
Since our world is becoming more and more digital, swiping a card is already more common than counting cash. Various types of cards, credit, debit or prepaid, are all great ways to reduce costs, simplify financial processes, save time, eliminate geographical barriers and have improved flow of goods or services.
Prepaid cards might be the biggest emerging force in the digital landscape. They are usually being promoted as a perfect alternative for those who have trouble getting and maintaining a bank account. Even though it is indeed a valid argument, turns out there are so many more reasons why a prepaid card is such an appealing choice.
To start with, it’s important to know that a prepaid card can do everything a debit or credit card does. You can use it to shop online, pay bills or withdraw cash. The main difference from the other types of cards is that prepaid cards are pre-funded and the transactions are paid with loaded funds.
When the users pay with prepaid cards, they can only spend funds they currently have. You can spend only as much as you have loaded. When the balance goes to zero, you have to load your card again. Because of that, in case of a card loss, having a prepaid card will result in little, if any damage. Only the funds loaded at the moment can possibly be lost. Prepaid cards are not linked to the accounts in the same way as for other types of cards, so in case of a theft, account balance will not be exposed to misuse.
Prepaid cards are extremely convenient when it comes to payments to international staff, freelancers, affiliates, partners etc. It’s a simple option to set up and it works without any issue locally and internationally. All you need to do is have the details of the recipient and simply load the card. Prepaid cards are a great way for employers to reduce transactional costs and control spending. Your employee can access the funds immediately once you load them and cannot spend more funds than dedicated.
So as you can see there are quite a few reasons why the market of prepaid cards is experiencing such a growth. If you got interested, let us know – you can benefit from StachelPay prepaid card in no time.