Anjali Verma, a shopaholic, always carried a debit card or a credit card on her shopping sprees. Carrying cash was cumbersome and not safe.

However, she usually ended up spending a lot more than what she had planned. She also felt uneasy at the idea of taking credit.

Now Verma has reason to be relieved. A couple of banks have launched prepaid cards. While the Oriental Bank of Commerce (OBC) unveiled its PrePaid Card in association with MasterCard, IDBI Bank has tied up with Visa for its GiftCard.

What makes these cards unique is that they do not require a bank account and the credit limit is set by the user. One can spend only as much as is deposited (paid) in the card.

Moreover, there is no annual fee (as in the case of a credit card). "Our's is an innovative offering targeted at those who don't want to carry cash. It is safe and is widely accepted across the country," said an OBC official.

The activation fee is also much lower. OBC charges a fee of Rs 100 for its card that is valid for two years. The card is available for a minimum of Rs 1000 and in multiples thereof, up to a maximum of Rs 50,000. IDBI Bank's GiftCard is valid for one year and is available for between Rs 1000 and Rs 20,000.

Both banks permit reloading of the card once the amount deposited is used up, or for raising the spending limit. The desired amount can be deposited at any of the bank's branches to load the card. A charge of Rs 50 per reload is levied.

These cards are also easy to procure. Only a simple form has to be filled at the bank branches, the cash paid and the card is delivered on the spot. OBC's PrePaid card has been launched only in Mumbai and Delhi and the bank plans to launch the card in other cities in the near future.

IDBI Bank's GiftCard comes in a neat pre-wrapped package to go with its positioning as a gift item. "Our card is targeted at anyone gifting. The card lets people choose their own gift from stores all over India. So they can get exactly what they are looking for in a gift," says Shameek Bhargava, head of cards products, IDBI Bank.

"Though we have launched in the festival season, our product should be in demand round the year. Even leading corporates are using our card as a gift item".

OBC also allows up to two add-on cards for a charge of Rs 50 per card. These can also be used as gift items.

The banks claim their cards can be used at over 50,000 shops. The OBC PrePaid Card is accepted at shops carrying the MasterCard Electronic (different from the normal MasterCard) logo. The card also allows you to withdraw money from around 4700 ATMs.

Though the GiftCard does not permit cash withdrawals, the user can access IDBI Bank ATMs to check the balance in the card or get a mini statement. The GiftCard can be used in shops where Visa cards are accepted.

The cards have been well received in the market. "We have already issued over 7,000 cards since the launch of the GiftCard on October 9," Bhargava said.

Verma can now shop away to glory, with the comfort of not carrying cash and not taking credit.