O2 UK has announced the launch of O2 Money – “a new business within O2 that will seek to advance the increasing synergies between mobile and money.”
The British carrier is collaborating with NatWest and will release several products, starting with two pre-paid Visa cards: O2 Cash Manager and O2 Load & Go.
The two cards are free and exclusive to O2 UK’s customers. Their users will receive updates via SMS, directly on their mobile phones, whenever money is spent.
Created for those “who want to keep their disposable income separate from regular outgoings like rent, a mortgage and bills”, the O2 Cash Manager card can be preloaded with up to £10,000 per year.
The O2 Load & Go card is targeted at young users (aged 13 or over). It allows parents to load up to £1,800 per year, so that children can shop online or on the high street – however, the card will not work in “unsafe” places like online gambling websites.
“By bringing a fresh, transparent and customer-focused approach to pre-paid cards, we plan to drive this market and take a significant share. In partnership with NatWest, O2 Money is delivering new ways of helping our customers better connect with their money,” declared Ronan Dunne, O2’s UK Chief Executive.
The O2 pre-paid cards will be available starting mid-August, via the O2 Money website .
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