Pre-paid debit cards 'growing in popularity'

By Mozo ·

A growing number of Australian shoppers are opting to use pre-paid travel debit cards to purchase goods on the internet, an expert has stated.

Graham Perry, Access Prepaid's director of global sales and strategic relationships, told National Features that use of this payment option for shopping on the web is "skyrocketing".

He explained that it is an effective way to lock in the exchange rate and for Aussies to avoid exposing their personal bank account details to retailers in other countries.

"Something like 75 per cent of all cross-border online shopping in the world is done in a shop in the US or the UK," he noted.

Purchasing goods from overseas using pre-paid debit cards may have been particularly popular recently as the Australian dollar has been strong.

This comes after Detective Superintendent Brian Hay from the Queensland Fraud and Corporate Crime Group told reporters that consumers' banking details may be safer if they could use a credit card that only works in their home country, reported the Australian Associated Press.

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