MasterCard Europe has created two new prepaid credit cards.
The new gift card and travel cards act as credit cards, but need to be pre-loaded with money in order to be used.
However, unlike credit cards, the user is not able to contribute to their personal debt.
Both of the new credit cards can be used at any retailer that accepts MasterCard.
The company claims that the new credit cards cater for a large majority of consumers who prefer flexible gift cards which can be redeemed at many outlets, rather than those which are restricted.
Furthermore, prepaid credit cards can be used as an alternative to traveller's cheques while holidaying, potentially offering competitive exchange rates and safety features, MasterCard believes.
Chris Reddish, the head of prepaid for MasterCard Europe, says: "Although consumers have become accustomed to using gift vouchers and traveller's cheques, they are now looking for solutions that are more globally accepted, convenient, and secure than cash and vouchers."
Abbie Shelton, spokesperson for the Association of British Credit Unions, warned that some credit card companies are offering too much credit, possibly creating higher levels of debt.
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