I heard about these a while ago via American Express and their Traveller card which they just withdrew last year. Basically the concept is its a credit card with no credit, just whatever money you top up directly on to it, typically between £50-£5000. Its a bit like cash, and I guess similar to the EMV initiative and the Oyster card payment scheme. The upside is you can’t lose more than the topped up balance as there is no credit capability so in theory using it on the internet make sense. The downside is that you pay a percentage to top up and per transaction. You can have one from 10 years old so they can be used by kids and topped up by parents.
