The prepaid bank card market - Portugal

The card market is divided into four categories: credit cards, debit cards, commercial cards and prepaid cards. The name of the category on the credit card is mandatory since the entry into force of the European regulation 2015/751 on 9 June 2016. Prepaid cards "give you a limited amount of money", so they are reloadable and do not require a connection to a current (bank) account. The increased security and functionality of the prepaid card are variables that have played a decisive role in its popularity. A prepaid credit card therefore has similar functions to a normal debit or credit card (with the card number, expiry date and security code, etc.). The main difference is that instead of the bank itself lending the funds to the customer, the customer will already have an amount of funds associated with their bank account (or a line of credit that has already been approved) and all they have to do is choose the limit. The main advantages are convenience, flexibility, but most importantly, total control over what the customer spends. There are two types of cards:

The prepaid single-use credit card - it allows a single debit and can be used until the total balance is exhausted ;