America Online introduces pre-paid cash card
22 July 2003 | 5749 views | 0
America Online is teaming up with Visa and Bank One to launch a reloadable cash card for teens.
The new card product - based around the Visa Buxx programme and issued by Bank One - is to be made available to AOL subscribers at no charge and there is no annual card fee.
The programme allows parents to set spending limits, track their teen's spending, load additional funds onto the account every month or set up a recurring load schedule to maintain the card as an "allowance," receive real-time updates on purchases, and access transaction histories entirely online through the AOL service.
The card may be used for purchases, both online and offline, anywhere Visa is accepted, and may also be used for cash withdrawals at ATM machines.
David Gang, executive vice president for AOL products, for America Online, comments: "This is a smart product that brings the concept of an allowance into the Internet age."