The future is Prepaid
Prepaid cards are already sparking a revolution in how transactions are performed today. The future for prepaid cards looks rather promising. Prepaid credit cards are already used widely in America and people from other countries have started to consider them seriously as well. The UK Market is one of the more mature markets.
Prepaid cards allow those without credit or debit cards to enjoy the same benefits that would be available to them with electronic cash. People having low credit worthiness can depend on these credit cards to perform various types of transactions such as making reservations for car rentals, hotels and purchasing items online.
A prepaid card works in exactly the same way as a pay as you go phone; you can top it up with cash at 1000’s of top up locations across the UK such as Payzone, PayPoint, the Post Office, etc using your credit or debit card, using your mobile phone, have your wages paid directly from your employer or transfer money from a bank account to your prepaid card. Some cards can even be topped up directly by paying cash at a bank which is part of the network.
Prepaid credit cards are now being used for Money Transfer, Travel, Gaming, Online Shopping, Payroll and Expense management, Privacy and Gifting.
Prepaid Cards in the Gambling Arena
Despite the fact that consumers are extremely wary of sharing their credit/debit card details online, over 6 million people indulge in online gambling every month. The main reason for their anxiety around credit or debit cards is that their card is linked to their bank account which means fraudsters have potential access to all their funds. Prepaid cards can be an excellent alternative in these circumstances.
As a prepaid credit card, it is not linked to any bank account and a scheme branded (MasterCard or Visa) prepaid card can be used for making purchases on gaming and gambling sites. The usual age and ID checks apply and prepaid cards provide the added advantage that you can only spend up to the value of money loaded onto the card which is excellent in terms of exercising social responsibility too.
This means better control and no overspending even if you want to whilst gambling online. All in all prepaid cards represent an excellent alternative form of payment and control for gamblers online.