Prepaid card

Prepaid credit cards are similar to gift cards. The user or a purchaser can load a certain amount of money on the card at a cash register in a grocery store, a pharmacy, gas station or other similar stores. This transaction is anonymous.

The payment process is an uncomplicated process when compared to other methods such as by credit card, as there is no possibility of chargeback after the payment is processed.

Because prepaid cards have only a certain amount of money loaded onto the account, fraudulent payments are not possible. Certain prepaid cards cannot be loaded past a certain limit.

This method is optimal for minors, as they cannot pay with credit cards and often have no bank account.

How do prepaid cards work?

In order to pay with a prepaid card, the customer must first buy a card and then load the desired amount of money onto the card. The value loaded onto the card is often offered in amounts of 5, 10, 25 or 50 euro.

When the card has an amount loaded onto it, the cardholder can use it to go shopping. During the payment process on online shops, the user must choose the prepaid card provider option and enter the information and PIN of the card into the online form. The card is then checked for value and if approved, the amount is subtracted from the total value of the card and the order is confirmed.