The Sun, Britain’s best-selling daily newspaper, is launching a pre-paid MasterCard to help readers combat debt. The Sun card, which is being launched in partnership with Tuxedo Money Solutions, aims to rival The Mirror’s existing Quidity prepaid debit card.
The card is not attached to a bank account and can be loaded with cash through PayPoint and Post Office outlets across the UK, wage transfers, credit or debit cards online and bank transfers.The launch will be supported by marketing and promotions in the newspaper and across its digital, web and mobile properties.
The Sun is the latest brand to launch into the market, which aims to offer card services to consumers that do not usually qualify for card such as “unbankables” and teenagers. The cards are popular in the US but have failed to gain a substantial foothold in the UK since being introduced almost two years ago. Tuxedo chief executive Mark Simon believes that the marketing might of The Sun will help to grow the market.
In July, Virgin Money launched a card in a bid to cash in on the “virtual bank account” market (MW July 5). Brands including FHM and TalkSport have also put their names to prepaid cards.
Sun readers applying for the Sun Tuxedo card will receive a paying-in book, a user guide and the card for £6.49 although they will also receive a £5 cash-back on the first load, making the effective price on £1.49p.