If you live in Australia, chances are, you’ve probably heard people talking about EFTPOS cards, and likely to have seen people use
them. If you’ve never used an EFTPOS card before; you don’t really know how they work or you’re just unsure of how they compare to Visa prepaid cards, this article is here to help.
Some of the questions you have may include: What’s the difference between EFTPOS and Visa prepaid cards? Where are EFTPOS and Visa cards accepted? We’re going to answer all of this and more to help build your understanding of EFTPOS and Visa prepaid cards.
The word EFTPOS is an acronym, which stands for “Electronic Funds Transfer at Point Of Sale.” Basically, it’s a payment system that allows you to use your card at the Point of Sale checkpoint.
EFTPOS also refers to payment terminals which can be used for shopping or making payments. It’s the most popular payment system in all of Australia so when you’re paying with a card instore, you’re probably using an EFTPOS terminal.
What is an EFTPOS Prepaid Card?
An EFTPOS prepaid card is a payment card with money stored directly on to the card not linked to a bank account. EFTPOS prepaid cards are accepted Australia-wide in any store with EFTPOS facilities so they’re great for everyday spending. They’re great for staff rewards, thank you gestures, referral rewards and much more.
However, if the recipient of the card may want to use their prepaid card overseas or online, a Visa prepaid card may be better suited, as eftpos cards are only accepted at eftpos payment terminals instore.
A Visa prepaid card is a payment card with the funds loaded directly on to it not through a bank account. Visa prepaid cards can be used in over 37 million outlets instore and online worldwide – wherever Visa is accepted.
As Visa cards are available as single or reloadable cards from Corporate
Prepaid Cards, they bring many benefits to businesses as they work great for
staff rewards, staff expense cards, cashbacks or to simply to say ‘Thank You’ to customers or clients.
On the surface, EFTPOS and Visa cards are similar. The EFTPOS card works just like any other prepaid card because it can be used in all stores with EFTPOS payment terminals.
However, deciding on which one of these options is actually better completely depends on what your recipients (staff, customers, clients) are likely to use their prepaid card for. Here are a few things to keep in mind when selecting between the two cards:
● EFTPOS is a strictly Australian system that can’t be used outside the
● Unlike Visa cards, EFTPOS can’t be used over the phone or online
● Banks usually don’t charge Visa users, but they charge for all EFTPOS
Whatever your choice may be, when ordering a card for the first time, order from Australia’s leading provider of prepaid and gift cards, Corporate Prepaid
With Corporate Prepaid Cards providing Visa and EFTPOS prepaid cards since 2005, you will no doubt find the perfect prepaid card for you and your business needs. Plus, you can choose from a range of card designs, have your logo overprint on the card or fully customise the EFTPOS, Visa or Mastercard with your own company branded designs.
CLICK HERE to request a quote today from Corporate Prepaid Cards to find the perfect prepaid card for your business needs