prepaid-card

Vocabulary Word

Definition

A 'prepaid card' is a type of money card. You put funds on it first, then use it to buy items or services. It's not tied to a bank account, unlike a debit or credit card.

Examples in Different Contexts

In travel, a 'prepaid card' can be a convenient way to manage expenses without carrying cash or incurring credit card debt. A travel blogger might write, 'I recommend using a prepaid card abroad to avoid foreign transaction fees and to keep travel expenses under control.'

Practice Scenarios

Innovation

Scenario:

The demand for cryptocurrency-based financial products is rising. Let's discuss potential product additions.

Response:

Adding a prepaid card with cryptocurrency cashback could be an innovative addition to our product line.

Marketing

Scenario:

We're working on our customer loyalty program. We need an attractive reward that also works as a brand reminder.

Response:

What about incurring limited cost by using branded prepaid cards as part of the reward scheme.