Cash 'download' card a hit

The Israel Postal Co. has sold over 5,000 Visa cash cards that can be "downloaded" with money without having to open a bank account.

postal card 88 224 (photo credit: Courtesy)
postal card 88 224
(photo credit: Courtesy)
The Israel Postal Company has already sold over 5,000 of the special Visa cash cards that can be "downloaded" with money without having to open a bank account. The Visa cash cards, which have been introduced by Visa-Cal and are sold at Israel Postal Company branches can be used for a variety of purposes - to give to children with a spending limit, buy goods and services on the Internet without exposing oneself to risk and employer gifts to workers instead of gift certificates for specific shops. Since the beginning of November, more than 5,000 of the special Visa "Nit'an" cards have been sold and so far, customers have purchased millions of shekels worth of debit credit with the cards. The card replaces cash and cannot be used by thieves as owners get a special code number to use it. Each card can download between NIS 400 and NIS 1,000 and used in cash machines as well as for purchases of goods and services. It is being honored at every place that honors a regular Visa credit card. Cal says the partnership with the Postal Company facilitates contact with thousands of customers who reach 300 branches around the country every day. The companies are promoting the new Visa card as a way of allowing children - who cannot use a credit card - to spend money in a controlled way. It also suits customers who want to remain anonymous and not identified by a regular credit card or who wish to make safe purchases over the Internet. Businesses can also hand out cards as holiday gifts to their employees instead of giving them coupons for a limited number of shops.