Card Types

Prepaid cards, Debit cards or Credit cards?

Choosing the right type of card to use for financial transactions is a big decision which should be carefully thought out by both consumers and businesses. In order to make this decision, you need to determine which card is the best option for you prepaid cards, debit cards or credit cards. Before you make this decision you need to understand the differences between the different types of cards so that you can make an educated and informed decision.

Prepaid Card

Prepaid cards offer many of the same benefits of regular credit cards without the risk on the end of the cardholder because all funds are prefunded by the consumer in order to prevent the risk associated with people who have a negative credit rating. The funds on a prepaid card are not borrowed and are funded by the client by making a deposit. Once this is doe the cardholder is then able to use the prepaid card to fulfill their buying requirements both for physical and online merchants; however, they are unable to surpass the amount of money which has been deposited on the card or by a pre-established spending limit.

Debit Card

A debit card is different than a prepaid card or credit card because it is linked to a financial account of the client. The funds are then taken out of the linked account when a transaction is made. It is considered to be a cash payment because the funds are taken automatically out of the account as soon as the transaction takes place.

Credit Card

Credit cards like debit cards are linked to a financial institution and are used to make payments are complete transactions at retail outlets or online merchants. The difference is that the funds which are used to pay for the purchases are not taken out of the clients account and are taken from an extended line or credit. The holder of the card agrees to pay back the amount spent as well as an agreed upon interest rate over a designated period of time.
Our prepaid cards, debit cards and credit cards can be used to make payments as well as withdrawal cash through the use of ATM cards worldwide. You can also use our cobranded cards for online transactions or to link to online accounts such as PayPal, Moneybookers & Neteller as well as many others. You can also use our cobranded cards for online services such as EBay, Walmart.com and most other online merchants that accept Visa & MasterCard transactions.

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