Virtual Piggy launches prepaid card for teens

Source: Virtual Piggy, Inc.

Virtual Piggy, Inc. (VPIG), provider of Oink, the award-winning online payment technology for families and teens, today announced that it has launched the Oink Discover prepaid card, a physical extension of the company's digital wallet.

The new prepaid card allows teens to shop at any of the more than 25 million merchant locations that accept Discover (DFS), but within limits set and managed by parents.

The Oink Card represents a valuable step in a teen’s financial freedom by providing them with a safe and easy alternative to cash that is connected to their personal Oink online account.

“Our goal is to have Oink be the payment option of choice, online or offline, for families worldwide,” said Dr. Jo Webber, CEO of Oink. “The Oink Card is the perfect complement to our digital product, giving teens a way to have more flexibility to use their personal account to shop in the real world, but still within parental limits and a secure environment where their personal information is protected.”

Here’s how it works:

  • Add Funds Directly From Your Oink Account – Parents and teens can re-load the Oink Card anytime via the mobile app or online account.
  • Manage and Track All Transactions – Parents have visibility of a teen’s Oink account, so they can track all transactions, check card balances, and control spending easily online.
  • Exclusive Deals – Oink will offer exclusive deals from several teen-favorite retail partners.
  • Highest Level of Security – All transactions take place within the secure Oink system, meaning a minor’s personal information is never shared with retailers, the credit card company, or any third parties.

The Oink Card is available at oink.com/oinkcard. It is accepted everywhere Discover is accepted and is powered by Marqeta, an advanced payment card platform for global enterprises.

"Discover and Oink share a common goal of educating teens about financial responsibility," said Amit Parikh, Head of Prepaid at Discover. "Our unique network assets allow us to extend Oink’s reach by enabling in-store payments and providing additional payment methods for their customers.”

Oink is the only payment technology designed to allow retailers and game publishers to reach under 21 consumers in a safe, legal and effective manner compliant with the FTC, COPPA and other international regulations. The innovative technology serves as a digital family wallet that is available online or via mobile and allows safe, secure transactions – all within parental controls.

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