Moneysupermarket comments on pre-pay vouchers

November 2, 2006

Financial advice website moneysupermarket.com has commented on the launch of the 3V pay-as-you-go Visa voucher, saying that it is representative of the 'expanding universe' of pre-pay options.

Robert Kenley, head of credit cards for the site, said that the offer also comes at an ideal time for Britons planning to do their Christmas shopping online.

The new product offers protection against fraud, anonymity for online shoppers and control over spending, as it allows users to set the amount they want to spend in advance.

There are fees associated with the scheme – there is a one-off cost of £3.50 every time users buy a voucher. Tokens can be bought for between £20 and £200.

For people who plan to spend no more than £200 a month online, Mr Kenley said that the 3V voucher is a better option than the Cashplus card, which has a £9.95 application fee and a monthly subscription charge of £4.95.

"However, current debit or credit card holders should remember they already benefit from internet fraud protection and many of the other benefits offered with this voucher and they don't have to pay any fees," he added.

"While this is a good option for pre-pay fans, traditional methods of payment are still superior for most internet shoppers."