Consumer Payment Card News

VISA Buxx III

The new VISA teen card has picked up another player. Ohio-based National City Corporation became the third issuer to offer the new VISA Buxx card. Two weeks ago Bank of America became the second issuer to offer the new prepaid VISA card for teenagers. VISA announced the development of the parent-controlled, re-loadable payment card in August. Parents are able to monitor how much money their teen spends by viewing current or past account statements on the VISA Buxx website or by a toll-free number that details where and when purchases were made. The teen’s name is embossed on the card, and all materials are mailed directly to the parents’ address. U.S. Bancorp became the first VISA Buxx issuer with the release of its card on August 21. Parents and guardians can enroll for a National City VISA Buxx card for their teen at www.nc.visabuxx.com . The enrollment includes a financial skills assessment which parents acknowledge they will administer to their teen to begin the education process about responsible spending.

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