Aimed at Australian teenagers who use social networking website MySpace and who are under 18 years and thus not eligible for credit cards, the card enables them to spend money online on items including concert tickets and clothes or to buy prepaid phone credit. Users do not need to be ANZ customers, as the Visa-branded card is not linked to a deposit account. According to local media, the cards maximum balance reaches USD 1,000.
Similar initiatives have been adopted by US e-commerce payments services provider Socialwise, which launched the BillMyParents online payment system (which allows teenagers to shop online while parents maintain control of their expenditures) and PayPal, with its Student Account program which enables young users to use a PayPal-branded MasterCard debit card that is connected to a parents PayPal account.
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