I've already written a review summary of Canadian Prepaid Mastercards and Visa cards (often incorrectly called "credit cards").

Also check out the 2010 Guide to the Top 5 Canadian Prepaid Credit Cards. 

But I think that original article is a bit unruly, so here's an article that is JUST about the RBC Prepaid Visa

Royal Bank of Canada Prepaid Visa "Credit Card"

Update: It looks like you need to show two pieces of identification to purchase these, I'm not sure if that information gets documented or not. It is a bit odd, since you still have the option of registering it later. Maybe it is just to verify your age?

Firstly, RBC likes to call this a "Gift Card", so you might have better luck calling it that in a branch rather than a prepaid visa to avoid confusion. The product is relatively new, so not all tellers may be familiar with it. It is also possible that not all branches will have them in stock, so call ahead, you might have to go to a specific branch or ask them to order it in for you.

These should be accepted wherever Visa is accepted, but for some purchases, you might need to register your name and address (At the RBC Visa website), losing some of your anonymity. However, I'm not entirely sure you need to put your name and address, especially for online digital services, like iTunes, where you're not getting anything actually shipped to you. It is a good idea to register your card in case you lose it, or need to do a chargeback however.

RBC Prepaid Visa Card Fees

The card itself costs just $3.95, a pretty good bargain in the "anonymous" prepaid card world. After 6 months from purchase, they'll start charging you $1.50 per month. When the card expires, they donate the balance to their chosen Olympic charity, where they'll proceed to take all of the credit for your donation and likely never attribute any of it to you. I'm not sure if you get a tax receipt for this (I doubt it). 

Since it seems like you can only dispute a transaction if you register your name and address with the card, you might want to just buy 1 card for 1 transaction, if you value your privacy and are worried about the security of your transaction. $3.95 isn't a huge expense if someone could charge your account $400 and you'd have no recourse because you didn't register your card.

There is a currency conversion fee of 2.5%, which seems to be pretty standard in the regular credit card world.

There doesn't appear to be any predatory "50 cents to check your balance" or "$3465346363/month maintenance fee" on this card, which is nice.

Limitations

Also, some payment processors can detect and block transactions that are from prepaid credit cards, I believe hotels sometimes do this. I don't think you'll have trouble purchasing at regular retail stores though. So if you buy a big prepaid card, be sure to be willing to spend it on something else if your first-choice retailer rejects it. 

The card can be purchased in any amount between $25 and $500 it seems. So it seems like if you know that a transaction will cost $47.77, you can buy a card for $47.77, but don't quote me on that. Having said that, the cards are only available in Canadian dollars, so you might have to add some amount to cover varying currency exchange rates.

Cards are NOT reloadable.

If you don't register your card with your name and address, consider any fraud your loss. 

The somewhat anonymous Canadian prepaid card choice.

RBC Prepaid Gift Cards need to be purchased in person from a Royal Bank Branch. They exist across Canada, so this shouldn't be hard, but you cannot buy them online, or through retail stores. However, I don't think you need to present identification. Nor do you need to fill out an application, it should be a "pay in cash and out in 10 minutes with the card" type of purchase. No activation of the card is required, but registering your name and address is optional if you so desire.

RBC Prepaid Visa Card Summary

• Relatively anonymous, your name isn't on the card, but you do have to present ID to buy
• Easy to buy (I think)
• Reputable seller (you don't have to worry about them going under and losing your balance)
• Low fees, especially if you spend your funds quickly
• Remaining funds lost at expiry
• Registerable if needed/desired
• Only available in RBC Branches
• Not reloadable
• Cannot do cash advances
• Could lose a lot of money if you choose to not register your name/address with the card and lose it