O2 becomes best selling Prepaid Card
Natwest and O2 which launched it's Visa prepaid card in July went on an agressive marketing plan last month by concentrating on the internet. With large comparison sites such as Gocompare, Uswitch and many more promoting the O2 prepaid card accross their loyal cusomters. O2 instantly saw a major increase in sales over night and is now one of the best selling prepaid cards on the internet today.
O2, which is part of the Telefonica group, has joined forces with NatWest to provide the prepaid cards, which can be loaded online or at certain retail outlets. Also you can withdrawals cash at ATMs whereever you see the Visa sign, although no form of overdraft facility is available and maximum limits apply.
The prepaid cards began in circulation from August with no charge to O2 customers, including the pay-as-you-go variety, as long as they top up regularly. Customers will be kept updated on their balances with regular SMS text alerts.
The launch marks O2’s entry into the UK’s personal finance market and the firm says that further products are planned.
According to O2, the mobile payments market could embrace up to 110 million European users by 2014, in a market worth $600 billion.
Although O2 are not the first mobile network to launch a prepaid card, Virgin and Phones 4 U already have cards in circulation, they are certainly the most agressive