edo Interactive introduced a new prepaid card, Facecard, at the beginning of July. ManageSmarter talked about the card here. Their goal was to combine their infrastructure of prepaid card design with a social network in order to target the millennial generation. Not only will this card have online capabilities, but also will provide the users with incentivized payment options at retailers around the world. edoCash will be a “prewards” function, where retailers deposit money on the card to be used at their store. The card was initially publicized at the Bonnaroo Festival this year to reach in order to reach their target audience.
Ed Braswell, the president and CEO of edo Interactive had this to say about the card:
"The Facecard Prepaid MasterCard simplifies the spending for our card members, and also creates a strong financial responsibility. It is a general purpose reload card that leverages online services and mobile messaging, as well as connects retailers to card members to offer incentivized purchasing opportunities."
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