Glossary
What do the technical terms mean
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Payment does not have to be complicated. However, there are technical terms that are often not common.
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Prepaid-Systems
Prepaid systems are payment systems in which the end customer's checking account is debited before the purchase of a specific good or service. The best-known examples of prepaid systems are, for example, Paysafecart or telephone cards with credit in the mobile communications sector.
No default risk
Prepaid systems enable the provider to make services available without the risk of default and without having to grant the customer credit. The customer thus provides the merchant with an interest-free loan as an advance payment. Prepaid cards are suitable, among other things, for people who have received negative credit ratings from credit agencies.
Prepaid for mobile communications
Prepaid systems are widely used by mobile communications providers. Here, a SIM card is provided that can be topped up with credit. This means that there are no basic costs, but the call and data transfer costs are usually higher than for contracts with subsequent billing.