Pre-paid card issuer uses social networking to target young customers

Pre-paid card issuer uses social networking to target young customers

US start-up edō Interactive is using Web 2.0 social networking sites like Facebook and MySpace to market its new pre-paid MasterCard, which is targeted at young adults.

The card is currently in beta mode and is being promoted at Web 2.0 destination sites like Face­book, as well as at several concert festivals and on 52 college cam­puses across the US.

The reloadable 'Facecard' - issued by MetaBank - can be used at ATMs and merchants that accept MasterCard and also works as a peer-to-peer payment system.

In addition, edō Interactive says Facecard works as a gift card, providing retailers with a marketing tool to target "millennials" - people born in the 1980s. Instead of merchant specific gift cards, users receive "prewards" - deposits on their Facecard to be used at retailers - or "edōCash".

Cardholders create and manage profiles online to determine which merchants send them the credit and receive offers via SMS text message and e-mail.

Commenting on the card, Ed Braswell, CEO, edō Interactive, says: "We start with the ability to use one's Facecard MasterCard card at millions of locations worldwide and then combine it with gift cards, prepaid cards and loyalty programmes."

Comments: (0)

Get your copy of the OneSpan eBook - How to minimise the risk of Social Engineering attacks in Banki
capgemini world reports

Trending Stories

Featured Job
All Jobs »
London, UK

Senior Sales, Collateral Management Solutions (London, covering EMEA)

Competitive base + bonus + benefit package

22 Jul