The debit cards are becoming popular at a rapid rate. The debit card market is expanding and the companies are trying to fulfill the growing demand. For the purpose, different types of debit cards with various features are offered by the companies. The use of debit cards is growing everyday because these cards are providing a number of attractive services to the cardholders. In comparison to the credit cards, these services cost low and are more convenient. Both offline and online transactions can be done through these cards.
But at the same time, the needs of different types of customers are not the same. Because of this, the debit card companies have designed various types of debit cards.
Debit Card Types
There are two types of debit card categories. These are the virtual debit cards and the physical debit cards. A wide range of debit card products are offered under these categories. These cards are provided with a number of features.
Virtual Debit Cards
These cards have been designed as a measure to check the fraudulent activities that are done through the Internet. There are a number of virtual credit cards offered by the companies.
Some of these cards are as follows:
Services Offered by Different Types of Virtual Debit Cards
Payments Through Internet
Physical Debit Cards
These cards are similar to other plastic cards but the main difference is that the cardholders should put the money in the card account before using the card. Different types of Physical Debit Cards are provided by the card companies.
Some of these are the following:
Re-Loadable Debit Cards: There are a number of cards that are provided as Re-Loadable Debit Cards. These are Payment Cards, Merchant Cards, Student Cards, Payroll Cards, Government Payment Cards and so on
Disposable Debit Cards: Some of these cards are Incentive Cards, Gift Cards and so on
Services Offered by Physical Debit Cards
Money Transfer Services
All these services provided by different types of debit cards are encouraging the customers to use these cards and this is helping in the growth of the debit card market. An example the way these debit card services come together is ING Australia Orange Everyday.