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 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.

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

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

Relive the 2017 Marketing Hall of Femme

Click the image above