Abstract: A cardless system for dispensing prepaid products, replenishing balances or settling an account which avoids the expenses of producing tangible prepaid cards every time the balance on the prepaid card is consumed. The system also provides the ability to replenish balances on existing prepaid cards thereby avoiding the expense of producing additional cards, and reduce equipment and labor costs. This system helps the environment by saving these resources involved in the production of the present disposable tangible prepaid cards. Additionally, the system offers monitoring of store inventory and recording of sales transaction. The system can manage several prepaid products on a single customer prepaid product account and provide introduction of new products or deletion of old products without the need of reprogramming, reinitialization, collecting, upgrading and redistribution of the user terminals.