e-Wallet Prepaid Cards: How can they Benefit Consumers? | Prepaid365

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17 June 2014

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The UK is the ‘most internet-based major economy’ according to researchers at the Boston Consulting Group (BCG). And as consumers increasingly turn to the internet to make a range of purchases, e-Wallet prepaid cards present a convenient and time-efficient way of to make payments.

Here are just some of benefits that e-Wallet prepaid cards for businesses can present to today’s digitally savvy consumers.

Retaining customer details

Rather than needing to input their personal/card details every time a purchase is made, e-Wallet prepaid cards store customer details so that they can be easily retrieved in the future.

However, while details are stored merchants are not able to see consumers’ personal credit or debit card details.

Managing budgets

While the UK’s economy is well on the road to recovery, consumers are likely to still be keeping a close eye on their finances. E-Wallet prepaid cards could help consumers to stay within budget, as they are only able to spend the amount they have loaded onto the card.

The ability to top up as and when needed

Wherever consumers are in the world they are able to top up their e-Wallet prepaid card instantly from their personal credit or debit card.

This means that whether consumers are at home or away they will have access to the purchasing power they need 24-hours a day, 7-days a week.

Purchases anytime, anywhere

As well as being able to load their card from any location across the globe, an e-Wallet prepaid card gives consumers the ability to make purchases virtually anywhere online. Consumers simply need to look for the Mastercard or Visa symbol when visiting an e-tailer.

Using an e-Wallet prepaid card also means that consumers won’t need to deal with any issues relating to currency conversion.

Enhanced security

E-Wallet prepaid cards are 3-D Secure™ which adds an additional layer of security to internet purchases. Using a system known as Verified by Visa and Mastercard, SecureCode transactions are directed to the card-issuing bank to be authenticated.

Payments open to a wider range of consumers

E-Wallet prepaid cards also mean that consumers won’t be held back from making the purchases they need if they don’t have a bank account or a credit card. This opens up online purchasing options for a wider range of consumers.

Cash in hand

As well as e-wallet prepaid cards enabling consumers to make purchases online with ease, they can also withdraw cash as and when needed at millions of locations across the globe.

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