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Prepaid: meaning, definitions and examples

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prepaid

 

[priːˈpeɪd ]

Definition

Context #1 | Adjective

payment method

The term 'prepaid' refers to a system where payment is made in advance, typically for services or goods. This method is commonly used for mobile phone plans, credit cards, and utility services, allowing users to pay before they consume the services. Prepaid options often help individuals manage their finances more effectively by restricting overspending. Additionally, prepaid products can be more convenient for those who prefer not to deal with monthly bills or long-term contracts.

Synonyms

advance payment, upfront payment.

Examples of usage

  • I bought a prepaid phone plan.
  • She prefers prepaid cards for online shopping.
  • They offered a prepaid service for the event.

Interesting Facts

Etymology

  • The word 'prepaid' combines 'pre,' meaning before, and 'paid,' which comes from the Latin 'pāgāre' meaning to settle.
  • It started being widely used in the late 20th century as modern payment systems evolved.

Finance

  • Prepaid accounts help consumers manage spending by limiting access to funds to what has been deposited or paid for.
  • Prepaid cards are often used by those without traditional banking, providing access to funds without needing a bank account.

Technology

  • In mobile phone services, prepaid plans allow users to pay for minutes or data upfront, avoiding monthly contracts.
  • Many online services now offer prepaid options for better control over spending and budgeting.

Pop Culture

  • The rise of prepaid mobile phones transformed communication, making it easier for people to connect without long-term commitments.
  • Various reality TV shows feature contestants who must use prepaid cards, emphasizing budget management and strategic spending.

Education

  • Many educational institutions now offer prepaid tuition plans, allowing families to pay for future college expenses at today's rates.
  • Prepaid courses can help students budget for their education by paying for classes upfront rather than per session.

Translations

Translations of the word "prepaid" in other languages:

🇵🇹 pré-pago

🇮🇳 पूर्व भुगतान

🇩🇪 Prepaid

🇮🇩 prabayar

🇺🇦 попередньо оплачений

🇵🇱 przedpłacony

🇯🇵 プリペイド

🇫🇷 prépayé

🇪🇸 prepago

🇹🇷 ön ödemeli

🇰🇷 선불

🇸🇦 مدفوع مسبقًا

🇨🇿 předplacený

🇸🇰 predplatený

🇨🇳 预付的

🇸🇮 predplačan

🇮🇸 fyrirfram greitt

🇰🇿 алдын ала төленген

🇬🇪 წინასწარ გადახდილი

🇦🇿 öncədən ödənilmiş

🇲🇽 prepago

Word Frequency Rank

Ranked #11,876, this word falls into high-advanced vocabulary. It appears less frequently but is valuable for expressing precise meanings in specific contexts.