Origin: Latin prefix pre-
Prepaid has 3 different meanings across 1 category:
simple past tense and past participle of prepay
"The company prepaid all its employees' vacation time before they even started working there."
In plain English: To prepaid means to pay for something before you actually use it.
"You can prepaid your subscription to get an extra month free."
paid for in advance
"The prepaid taxi ride allowed us to travel without worrying about having change on hand."