Today I watched an ad on TV about the launch of first Pakistan’s prepaid debit card by UBL. It hit my fancy and I go to the website of UBL to see what they are offering. This news excites me for several reasons. First of all it can start the trend of using prepaid money in Pakistan. And second I am engineer in a company who’s business is to develop and manage a prepaid card solution. So being the part of this business I know the trends of this industry and know what cardholders expects from their issuer.

It will encourage other banks too to have such kind of products and do a competition with UBL and give people better alternates. After seeing the image, I am missing one thing that is cardholder name on the card. No personalization. So it means you give money to the bank and they will immediately issue you the card of your choice. Hmm. They are saving the time to get issued the card with name which can take a week. But people will be more happy to see their names on card.

And let me mention an other hing that the central bank of Pakistan has reported the increase of debit card user over credit card. Its good that people are getting habitual of using their own money, rather blindly consuming credit card and put their selves in problem when paying it later.

I also prefer to use my VISA debit card (also from UBL) whenever it required to pay. Because it provides safety for not carrying cash aways. But I have one big reservation on using these debit cards on POS machines. If anyone steal your card, before you block you card he or she can easily make transactions. It should require any authentication (PIN based like it required at ATM) on even POS too. I will always feel this limitation on using plastic money.