New Zealand Post launches another card first
From Thursday 6 March 2008 New Zealand Post and Visa International will be launching “Loaded”, the country’s first general-purpose reloadable prepaid Visa card.
The card offers a new payment option to consumers looking for the functionality and acceptance of a credit card along with the sensible spending habits offered by prepaid. It works in the same way as a prepaid mobile phone – you load funds on the card before you spend.
Loaded is easy to get. It isn’t attached to a bank account and anyone over the age of 13 is able to apply for a card.
Terese Tunnicliffe, New Zealand Post’s Payment Services General Manager says “we believe Loaded will appeal to a broad range of people because of the freedom and control it offers over other card types”.
“Loaded is the ideal card for people who are either too young or don’t qualify for a credit card or those people who want added control over their spending. It not only makes online shopping more accessible for New Zealanders but will appeal to those who want to shop online securely and within their means”.
“Knowing the card will have a widespread appeal, we’ve made Loaded as flexible and user-friendly as possible, but at the same time we have also taken a responsible approach and included several safeguards” says Ms Tunnicliffe.
One such safeguard is based on age. When a customer applies for a card, their age will determine whether they receive an over 18 account or an under 18 account. The under 18 card can not be used at bottle shops, bars or to purchase adult orientated services. A customer who is 18 or over can also elect to have an under 18 account if they want the restrictions built into the under 18 card account to apply to their card (e.g. if they want a second card for a teenage relative to use). From Thursday 6 March 2008 New Zealand Post and Visa International will be launching “Loaded”, the country’s first general-purpose reloadable prepaid Visa card.
The card offers a new payment option to consumers looking for the functionality and acceptance of a credit card along with the sensible spending habits offered by prepaid. It works in the same way as a prepaid mobile phone – you load funds on the card before you spend.
Loaded is easy to get. It isn’t attached to a bank account and anyone over the age of 13 is able to apply for a card.
Terese Tunnicliffe, New Zealand Post’s Payment Services General Manager says “we believe Loaded will appeal to a broad range of people because of the freedom and control it offers over other card types”.
“Loaded is the ideal card for people who are either too young or don’t qualify for a credit card or those people who want added control over their spending. It not only makes online shopping more accessible for New Zealanders but will appeal to those who want to shop online securely and within their means”.
“Knowing the card will have a widespread appeal, we’ve made Loaded as flexible and user-friendly as possible, but at the same time we have also taken a responsible approach and included several safeguards” says Ms Tunnicliffe.
One such safeguard is based on age. When a customer applies for a card, their age will determine whether they receive an over 18 account or an under 18 account. The under 18 card can not be used at bottle shops, bars or to purchase adult orientated services. A customer who is 18 or over can also elect to have an under 18 account if they want the restrictions built into the under 18 card account to apply to their card (e.g. if they want a second card for a teenage relative to use).
“The age restrictions fit in with the fun yet responsible theme for Loaded which we believe will be a positive feature for the younger market, parents and others using the card” says Ms Tunnicliffe.
Loaded can be used wherever Visa is accepted electronically in New Zealand, overseas or online at more than 24 million retailers and over 1 million ATM’s worldwide. Cardholders can choose between six different card colours and each loaded account can have up to 6 cards attached to it. Card applications can be made online or at any New Zealand PostShop.
The card can be “re-loaded” online (at www.loadedcard.co.nz), direct from a New Zealand bank account or at any PostShop using cash or EFTPOS. Cardholders can also check their balances and transactions online.
Other features of the new Loaded card include:
The card’s application fee is $16.50 but as part of the card’s launch promotion it will be available for just $10.00 until June 30, 2008.
There are no monthly fees but there is an annual account maintenance fee of $10, first charged 12 months after the card has been issued. An inactive account fee may also apply. Further details on fees can be found at www.loadedcard.co.nz.
You can spend in store or online with any New Zealand retailer for free.
Cardholders are able to check their balances and transaction histories for free online at www.loadedcard.co.nz.
To help protect cardholders from spending more than their available balance, the Loaded card has been designed for electronic transactions only. For this reason Loaded cards cannot be used at taxis and automated fuel dispensers, for manual Visa payments (for example in zip-zap machines), for some services where the merchant requires identification, or for gambling.
Ends
For more information contact:
Terese Tunnicliffe, GM Payment Services New Zealand Post (T) 04 462 7903 (M) 027 270 8263
Bruce Thompson, Communications Manager, Kiwibank (T) 04 460 6831 (M) 027 475 3521
