Leading teen spending solutions provider BillMyParents and MasterCard Worldwide have launched a new campaign designed to educate parents about the benefits of prepaid cards for teens.
Launched in August, the campaign will run across social, online and mobile media through October and highlights the real-time tracking capabilities of the reloadable BillMyParents SpendSmart MasterCard® prepaid card. The campaign includes a national sweepstakes and a card usage rewards element, and was created to push both brand awareness and card conversions on a national level.
“BillMyParents stands out in the prepaid card space with what they’re doing for families with teens,” said Shekhar Sahgal, vice president, U.S. Prepaid Products, MasterCard. “MasterCard prepaid cards help parents and their teens enjoy the safety and convenience of electronic payments versus cash, while teaching them financial responsibility.”
Tailored to appeal to parents, the main message threaded throughout the promotion is: ‘Keeping track of your teen’s spending with the BillMyParents SpendSmart MasterCard…Priceless.’ Addressing the need for safe and easy-to-use solutions to help families manage teen spending in the digital age, BillMyParents provides varying levels of oversight that can be customized for both parents and teens. Instant text alerts can be sent every time a purchase is made or only if a purchase exceeds a certain dollar amount.
Funds can be reloaded and the card can be immediately locked or unlocked with the touch of a button — via SMS text, by logging in online, or by using the free iPhone app. Instant transaction alerts showing when, where, how much was spent and remaining balance enable parents to take advantage of potential teachable moments in real-time, and extended family members can all contribute to the same card account from any online location.
“This is an incredible opportunity for us to leverage one of the most recognizable marketing programs in the world,” said Evan Jones, vice president of marketing for BillMyParents. “It is immensely gratifying that, like us, MasterCard recognizes and believes in the vast growth potential for prepaid cards, including in the teen market. This digital campaign is the perfect way to express how strongly we feel that what we are providing to families IS priceless.”
In addition to benefits such as real-time spend alerts, the program also offers incentives around entertainment that the whole family can enjoy together such as free movie tickets, entrance in a sweepstakes for an all expenses-paid trip to a Hollywood movie premiere, and inclusion in a new rewards program based on recurrent use of the card.
BillMyParents prepaid cards are issued by University National Bank pursuant to a license provided by MasterCard International Incorporated.