You need to provide cash to your teenager, but you are worried that he or she may not use the cash correctly or is targeted by undesirables. You however want them to have financial security, learn financial responsibility as well as enjoy the security of cash as well as the flexibility of using their allowances in the manner they fit. Providing them a limit-based credit card as a supplementary card will mean exposing you, your child and your accounts just like any other credit card.
Teenagers on the other hand want to use a card which they cannot get from a bank, need to purchase stuff from the internet – ringtones, music& games. They wish to use cash anywhere and anytime.
The Teen Card will meet the needs of teenagers as well as will satisfy the requirements of parents through the following:
- Personalized VISA or Mastercard branded so that the card can be used on the Internet as well as on ATMs and POS devices world-wide
- Easy load capability through various mechanism and outlets
- Security for the cash on the card through PIN based security
- Limited exposure/liability through pre-paid functionality
- Meets the “aspiration” of teenagers wanting plastic
- Can be branded with a choice of skins
- Web-based access will provide you a monitoring capability of your teenager’s activity
- SMS alerts to parents to inform them of their ward’s card usage
The Teen Card will be issued through a banking partner to allow you limitless options for loading cash. Should you need more information, please do not hesitate to drop us an email at prepaid@prizmpayments.com
