Jamaicans young and old know about credit cards and debit cards, but what is this new phenomenon known as a prepaid card?

Well, a prepaid card is one in which value is stored and for the which the holder has paid the issuer in advance. In simple terms, it is a card that you can add funds to and spend.

Jamaica jumped on the prepaid card train with the introduction of the Lasco Gold Visa Prepaid Card from Lasco Financial Services in 2021 and that card has been doing very well with customers who have chosen to use it for remittances and a lot of their online purchases. It is definitely for the persons who want the experience of convenience and safety whey they conduct cashless transactions without having a bank account, anywhere and anytime!

These are five things you probably did not know about the Lasco Gold Visa Prepaid card:

1.     Ease of registration and access – The registration process requires less documentation and hassle in comparison to the process for credit cards and debit cards. Essentially, you only need the same information that is required to receive a remittance to qualify for the card.

2.     No bank account required – There is no bank account required for you to access this prepaid card. The added benefit too is safety since you don’t have to walk around with cash. Now, you can put your remittance and money on to the card. 

3.     Safer online payments – You can conduct online transactions including purchases, utility bill payments, airtime sales and send and receive remittances with the prepaid Visa Card. With two-way authentication to verify each online purchase, the card helps to protect against fraudulent and unauthorised transactions. About 17 per cent of Jamaicans are unbanked, so they are excluded from conducting most digital transactions. This card opens a whole new world for them. 

4.     Reduce cyber threats – Increasingly, there are cyber-attacks, credit card fraud and identity theft. With the Lasco Gold Visa Prepaid card, you have the choice of putting as much or as little on the card as you choose. This allows you to have the peace of mind to conduct transactions online without worrying that fraudsters can get into your bank account or get sensitive financial information. 

5.     Enhanced features – The card has many features including spending controls and the ability to block and unblock the card. It is also the perfect card for those on a strict budget. 

This could just be the perfect time for you to consider this as a viable option for you and your family.