Prepaid cards are widely accepted and they have even more acceptability than credit cards in some cases. Prepaid cards are issued under a Visa, MasterCard or other payment processing brands, and therefore they are widely accepted wherever such payment mechanisms are accepted. These cards are globally accepted and can also be used for travelling as a multi-currency travelling card, dining, fueling, gifting your loved ones for their spendings etc.
Despite poor credit history or low credit score, it is still possible to get the prepaid card.
Besides the basic ability to make purchases with a card, prepaid cards offer some other features for your customers. These kind of cards can be used to get instant cash from almost all the ATM’s and the transactions are secure as every such card is PIN-protected.
Prepaid cards offer the same theft and loss protections as a credit card. If your customers report the loss or theft of a registered card to the issuer, most will restore your customer balance and give a new card. No need to worry about card fraud or identity theft, a card of this type could be a good option as they are not linked to your customer’s bank account and are PIN-protected. Your customers can also activate or block card through phone to avoid fraud.
When the money runs out, your customers spendings stop automatically and they cannot get into debt. The activity and usage of customers prepaid card can be tracked online or by using your phone. This makes it very easy to control customer’s spending, generate and keep records and these cards can be used for all varieties of online transactions.
In case your customers need to put more cash on their card, should just make a transfer of money from a bank account or financial institution.