When searching for the right prepaid card for your business, comparing Visa vs Mastercard and eftpos can be confusing. To alleviate this confusion, our comprehensive guide is here to offer you a comparison of each option. Say goodbye to uncertainty and make an informed choice with our expert insights.
The Different Prepaid Gift Cards
EFTPOS prepaid cards
EFTPOS stands for “Electronic Funds at Point of Sale”. It’s Australia’s most popular payment system, making eftpos facilities widely available for purchases.
With an eftpos prepaid card, funds can be preloaded onto the card offering businesses a convenient and secure way to provide staff rewards, incentives, prizes, thank you gifts and much more. These cards are connected to the eftpos network, ensuring smooth transactions at any store, anywhere in Australia with an eftpos terminal.
Benefits of eftpos prepaid cards:
- A versitile alternative to cash. With an eftpos prepaid card, you can load funds onto the card and use it for transactions without the need for carrying cash, eliminating the risk of losing physical money.
- Security. Prepaid cards provide enhanced security compared to carrying cash. If your card is lost or stolen, you can quickly report it to the provider and have it deactivated, protecting your funds from unauthorised use. Some cards may also offer additional security features such as PIN protection or fraud monitoring.
- Budgeting and control. Eftpos prepaid cards allow you to set a specific budget by loading only the desired amount onto the card.
Drawbacks of eftpos prepaid cards:
- Some limitations in acceptance. While eftpos prepaid cards are widely accepted within stores in Australia, they cannot be used online.
- No ATM access. Due to eftpos prepaid cards only being accepted in stores with eftpos termin