According to recent reports, over half of the UK population are worried about becoming a victim of credit card fraud and refuse to shop online. However, a prepaid credit card could put these fears to rest.
Electronic payments company CyberSource claimed that one in three respondents to their survey knew someone that had been a victim of fraud involving credit cards . Prepaid credit cards look and function just like a normal credit or debit card, but the customer can only spend the balance that has been preloaded onto it.
There is no risk of running into debt, as this type of card has no credit or overdraft facility . The card also has no personal bank details attached to it. The prepaid credit card market is set to explode this year.
MoneyNet.co.uk spokesman Andrew Hagger reportedly commented: " Prepaid credit cards allow such people to be part of the modern day 'plastic culture' which allows you to take advantage of online shopping discounts as well as access to hugely popular sites such as eBay."
Prepaid credit cards could crack down on fraud
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Prepaid credit cards could crack down on fraud
Tue, 17 Feb 2009
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