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Facecard gets a facelift

01 October 2009  |  2053 views  |  0 Source: MasterCard

Already one of the most convenient and cost-effective financial tools on the market, the Facecard Prepaid MasterCard today announced that the year old product has emerged from beta with enhanced features including parental controls, fully integrated social networking features, and a fresh look.

Facecard launched in May of 2008 to serve as an alternative to debit and credit cards. The smart, efficient prepaid card, issued by MetaBank, promotes responsible spending and provides real time discounts at the time of purchase called Prewards. The card quickly gained popularity amongst millennials as it combines the flexibility, security and convenience of a MasterCard card with unique features such as parental controls, peer-to-peer payments and the ability to manage a card account online, from a mobile device or via a social networking account.

"In less than a year, Facecard has made tremendous progress by adding tens of thousands of members, offering dozens of Prewards and signing many terrific partners," said Ed Braswell, Founder and CEO of Facecard. "We strive to continually improve Facecard, and in that spirit, we've fine tuned our platform and added new features that we believe will be welcomed by existing and future card members."

Facecard now offers more tools that make it easier than ever to give more and get more. Facecard users can enjoy the following new and improved features:

  • Better (and more) Prewards - The Under Cover Coupons: Members will see an average of $15 per month of extra cash in their pocket from favorite restaurants, stores and internet retailers.
  • Enhanced Parental Controls: In addition to existing tools, parents can now decide just how much control they want over their teen's finances. Alerts can be set to know when the card has been used (and where), when someone has gifted their teen, or if their teen is below a certain balance.
  • Free Direct Deposit and Bill Pay: Card holders can now utilize direct deposit for free! Members can also set up recurring or one time payments for online bills through a Facecard account.
  • Friends and Family Gifting: Gifting just got quicker and easier. With the click of a button, the gift is on its way. No more searching through hundreds of "Smiths" for your cousin or best friend. Facecard's innovative peer-to-peer gifting function allows members to pay back friends and family or send gifts by simply entering the name or email address, entering the amount and hitting "send."
  • Fully Integrated Social Networking Features: Virtual gifting just got better, and real! Members can now download a Facecard Facebook app at apps.facebook.com/edogivemore/ and give actual monetary gifts. Is your friend having a bad day? Send him/or her Preward funds towards a special lunchtime burrito via Facebook. And, if you are tough to shop for, or know someone who is, create a wish list using Facecard's Facebook app and allow your friends and family to add funds toward new products, dream vacations, and more.
  • New Look: Implementing direct feedback from existing users, the new Facecard Web site www.facecard.com features a sleek and updated design. And, Facecard continues to expand its offering of rainbow colors adding pink and black to the mix. Colors include green, blue, orange, pink and black.

Facecard remains a user-friendly and cost-effective payment option. Currently, Facecard users can sign up for a Facecard free of charge. As of Q4 2009, Facecard will implement a new fees structure, which will include a $5 sign up fee and a low $3 monthly fee to maintain an account. Monthly fees can be waived if users have their paycheck loaded through direct deposit to their account or load or spend $100 each month which can be done for free via bank transfer. Facecard also offers user-friendly features like daily and low-balance notifications and balance inquiry via text message.

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