AmEx, Zowi Launch stored-value Cobaltcard for Young Adults

Share this content:
American Express Co. yesterday launched a stored-value card along with online payment services company Zowi Corp. in an attempt to allow youths ages 13 to 22 to buy on the Internet.


Called Cobaltcard, the new product requires consumers to sign up online at the www.cobaltcard.com site maintained by Zowi, San Francisco. The card will be accepted at most online and offline merchants that accept American Express.


The card allows users to buy without using cash or credit cards. Cardholders can either load money onto their Cobaltcard by transferring from a personal checking account or by having parents transfer funds from a checking account or credit cards.


In its latest endeavor, AmEx faces competition from Pocketcard and Visa International's Visa Bucks -- both targeting the same youth market with similar stored-value cards.


To promote the card, Cobaltcard will become the primary focus of the final episode of MTV's "Road Rules" series. The show follows young adult contestants as they travel through exotic locations.


In the finale, the Cobaltcard will be the only way the contestants can buy supplies and spend money to reach their ultimate goal. Winners get to split the $100,000 prize on their Cobaltcards for spending on the Internet.
Loading links....
close

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

We recently were named B2B Magazine's Direct Marketing Agency of the Year, and with good reason: We make real, measureable, positive change happen for our clients. A full-service agency founded in 1974, Bader Rutter expertly helps you get the right message to the right audience at the right time through the right channels. As we engage our clients' audiences along their journey, direct marketing (email, direct mail, phone, SMS) and behavioral marketing (SEM, retargeting, contextual) channels deliver information relevant to the needs of each stage. We are experts at implementing and leveraging marketing technologies such as CRM and marketing automation in order to synchronize sales and marketing communications. Our team of architects and activators plan, execute, measure and adjust in real time to ensure the strategy is working as needed and change things if it's not.

Find out more here »

DMN's Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here