Visa Introduces Card For Teens That Parent Control

- SAN FRANCISCO (08/10/00) --Visa U.S.A. hasannounced the release of "Visa Buxx," a parent-controlled,re-loadable payment card designed to help parents provide spendingmoney for teens and to help teach teens practical money skills. Inaddition, the card comes armed with a range of parental controlsincluding pre-determined spending values, online transactionmonitoring and a parent-administered financial skills assessmenttest. The new card is expected to be issued by a number of banks inthe coming weeks and months, according to Visa. The Visa Buxx cardlooks and works like a traditional Visa card with a magnetic stripeand the teen's name embossed on the card. The card works much likea reusable, pre-paid phone card and may be used for purchasesanywhere Visa is accepted, including online and at ATM machines.However, each Visa Buxx transaction draws from a limited amount offunds that parents set aside in advance in a dedicated account.Parents can apply for the card, load funds on the card and trackteen spending entirely through the Internet atwww.visabuxx.com.