Consumer Payment Card News

Allow Card

A new payment card has been introduced for children between 10 and 19 years old. The new “Allow Card” is a PIN-based stored value debit card and offers more than 35 parental controls. Parents can set parameters for their children’s spending including a feature that allows parents to lock out specific merchant categories, so kids can’t spend money at undesired locations. The new family/teen card carries a $20 purchase fee. Up to $2,000 can be loaded onto the card. The heart of the “Allow Card” program is its Web site. From there, parents can load and reload finances to the card from any credit card, checking or savings account. The Web site also features a variety of constantly updated online financial lessons and games to break the bonds of financial illiteracy among youth; after successful completion of monthly lessons, areas of a virtual gaming world are unlocked for children to explore. For more information visit: “http://www.allowcard.com”:http://www.allowcard.com

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