The exclusive card combines a prepaid card and the flexibility of a checking account in one product, the companies claim. In addition, a rewards program will accompany the card, offering one point for every dollar spent.
The Model Prepaid MasterCard Card was created by Catwalk president Gregory James and the relationship between Catwalk and Trycera, a registered agent of MetaBank, was forged with a view to capitalize on the buying power of the teenage market.
The card is intended to be used as a tool that allows for discussions between parents and their teenager regarding financial responsibility, the companies say. It can be reloaded by the parent and notify children on their cell phones, have payroll checks directly deposited to the account and notify both parent and teen via email when the funds are depleted, while allowing the parent to view where the funds were spent.
We are excited about the opportunity to work with Trycera on this venture, stated Mr James. Through our relationships with modeling agencies worldwide, it is our hope that this card will allow for new opportunities for growth within the industry and offer an increase in financial responsibility among young adults.
The card is issued by MetaBank, pursuant to license from MasterCard International.
