By Dan Ilett, 1 August 2006 16:10
NEWS
Virgin Mobile USA is to launch a prepaid Visa debit card aimed at teenagers.
Card holders can build up free talk time by using the card - which is in partnership with processing company NetSpend - to make purchases.
The Virgin Mobile "Stash" card will be issued by Inter National Bank and will allow people to perform peer-to-peer money transfers and send wireless text-alerts to manage spending and guard against fraud.
Virgin said the card will be accepted anywhere Visa debit cards are accepted. Customers can load money onto their cards at partner retail locations, up to a maximum balance of $10,000.
In the UK, Visa is piloting contactless debit cards in London which will allow shoppers to pay for low-value goods by simply touching their card against an electronic reader.
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