O2 Money is partnering with Natwest and will launch two fee-free, pre-paid Visa cards in August. They will be offered to O2 customers, who will receive free texts after every transaction informing them of their balance.
The Cash Manager card is aimed at adults who want to keep an eye on what they spend. Load & Go is aimed at younger people, and teenagers from the age of 13 will be able to register for the card. Parents will be informed of the application and transactions on certain websites such gambling will be banned.
Online tools are also being developed that will allow card users to analyse their spending.
An advertising campaign that will include television and cinema activity will promote the Cash Manager card. Direct marketing will also be used to promote the product to O2 customers, as well as an online campaign. A viral campaign will also be launched to promote the Load &?Go card.
Alistair Johnston, marketing director for O2, says the campaign will be “stretching the O2 visual identity and brand, taking it a bit further to show its entrance into financial services”.
A partnership deal with Hollyoaks, which O2 claims is a UK first, will see the brand produce contextual ads using the scripts from the TV show.
O2 UK chief executive Ronan Dunne says: “O2 Money will represent a launch-pad into a wide range of mobile banking services.”
The business hopes the cards will encourage greater loyalty to the brand and promote the “synergies between mobile and money”.
Agencies behind the marketing campaign include VCCP, PR company Blue Rubicon and online digital agency Agency Republic.