Phones4u launches Mastercard prepaid cards

Phones4U is to go head-to-head with O2 in the financial services market, with the launch of two Mastercard prepaid cards.

Escape Card

The mobile retailer will target ethnic minorities and lower socio-economic communities with the Escape card, and 13-to-18 year old consumers with its Neon card.

The launch of the new prepaid card this month will roll out progressively across its 450 stores in the UK.

Managing director of EZ Pay, which owns Phones4u, Paul Smith, says marketing activity will be led by social media and heavyweight PR activity. There will also be radio promotions and advertorials and competitions in magazine titles such as Nuts, Take a Break and Woman’s Own.

Smith says the major point of difference between the Phones4u and O2 services is that only O2 customers will be able to use its prepaid cards, while the former will not limit the offering to customers belonging to a certain mobile operator.

The O2 Money cards, launched in partnership with Visa, consists of the Cash Manager card aimed at adults and the Load & Go targeted at teenagers from the age of 13.

Smith says Phones4u is aiming to sell between 10,000 to 12,000 prepaid cards every month by the first quarter of next year.

As an incentive, it will also offer loyalty features including a shopping rewards scheme at over 1,000 retailers when buying online, including iTunes, Next, Curry, Look and Lovefilm.

Young consumers will also be prevented from using the prepaid card for accessing gaming, alcohol or adult content.

Further, ethnic minorities will be able to use the card to send money overseas to family and friends without paying a transfer fee.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here