Virtual Piggy, a provider of Oink, an online payment technology for families and teens, has launched the Oink Discover prepaid card for teens, in association with Discover Financial Services.
The new prepaid card will provide financial freedom to teens allowing them to shop at any of the more than 25 million merchant locations that accept Discover cards within limits set and managed by parents.
All transactions will take place within the secure Oink system where parents and teens can re-load the Oink Card through mobile app or online account with parents having visibility of the teen’s Oink account to track all transactions and control spending online.
Oink payment technology has been designed to allow retailers and game publishers to reach consumers below 21 years of age in a safe, legal and effective manner compliant with the FTC, COPPA and other international regulations.
Amit Parikh, head of prepaid at Discover Financial Services, said: "Discover and Oink share a common goal of educating teens about financial responsibility. Our unique network assets allow us to extend Oink’s reach by enabling in-store payments and providing additional payment methods for their customers."