Card made available to allow children to shop via the Internet

A new card has been launched that could allow children aged just thirteen to make purchases via the Internet. Kids will be able to shop online as well as make cash withdrawals on the debit style card.

The card has been made available by the mobile phone and communications giant. O2, and is called the Load & Go card. The card has been launched in conjunction with Natwest, and officials from the two firms have said that the aim of the card is to teach younger kids the importance of managing their finances effectively.

With the Load & Go card kids will be able to load up the card using their pocket money, or in some cases parents may put money on the cards.

The card can then be used to take out cash, shop in stores, and make purchases over the Internet, in the same way as a regular debit card.

Kids will not be able to rack up debt or go overdrawn as only the amount of cash that has been loaded onto the card can be used for spending, and once it’s gone its gone, and the card will need to be reloaded.

There are concerns amongst industry officials that kids could end up quickly spending all their money using the card, and more importantly will have access to Internet purchases and could end up buying inappropriate goods online. However, O2 has said that there are various safeguards in place with the card, which is only available to O2 customers at present.

An official from O2 said: ‘We have clear limitations in how the card can be used online. For example, it cannot be used with online gambling and services like that. We are creating a controlled environment. At the end of the day, there is parental responsibility and retailer responsibility.’

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