'Back-to-School' Spending Spotlights Prepaid Debit Cards

CardEx CEO Offers Students and Parents Tips for a Better Prepaid Debit Card

Experience



Aug 30, 2005, 01:00 ET from Card Express, Inc.

    IRVINE, Calif., Aug. 30 /PRNewswire/ -- "Prepaid debit cards have a 'cool
 factor' and symbolize financial independence for many young consumers," says
 Alan Safahi.  "Armed with this convenient spending tool, the back-to-school
 shopping period is an unofficial holiday for the current generation of teens
 and college students."
     Safahi is President and CEO of Card Express, Inc. (CardEx), an Irvine,
 California-based, full-service debit card processor.  The company sells Visa-
 branded prepaid cards direct-to-consumer from its CardEx.com website
 (http://www.CardEx.com) and also designs custom debit card programs for banks
 and retailers.  These cards can be used online or at millions of merchant
 locations worldwide.
     It is widely known that second to the December holiday season, back-to-
 school is a prime time for retailers and for prepaid debit card use.  Safahi
 notes that "tweens," teens, and college students enjoy the immediate
 gratification of their annual "retail rush," but that "they might be unaware
 of the lasting versatility their prepaid card can possess."
     "Teen cards and certain back-to-school 'theme' cards can be reloaded with
 funds and some even have ATM features, thus creating a continuous spending
 tool," said Safahi.  He adds, "These features not only complement the back-to-
 school timeframe, but also permit the card's life to be extended throughout
 the entire school year.  Basically, prepaid cards can engage students in self-
 sufficient budgeting and spending."
     Safahi, the proud father of five children including a 15-year-old, says
 parents, who have essentially become "human ATMs" for their children, can also
 reap benefits from prepaid cards.  Specifically, since the card deducts funds
 from an existing reserve, parents avoid having to perpetually dispense actual
 cash to their children.  Safahi suggests several "quick tips" - ways parents
 can maximize the card's convenience, including:
 
     - Explain the purpose of the card with your child and create a workable
       budget
 
     - Advance the card with enough funds for everyday, school-related items
       and discretionary items
 
     - Reload the card at regular intervals (up to the dollar maximum) to gauge
       average spending/saving
 
     - Review the card usage with the kids and offer periodic encouragement and
       advice as needed
 
     - Allow funds to "rollover" as a reward, if your son or daughter doesn't
       entirely use the original loaded amount
 
     Ultimately, Safahi believes that the added value parents and young
 consumers realize from the prepaid card experience, enhances the card as both
 a fun and flexible spending tool.
 
     About Card Express, Inc.
     Card Express, Inc. is a leading processor of prepaid debit card products
 for financial institutions and corporate clients worldwide.  Established in
 1995 as a pioneer in the prepaid gifts and incentives industry, CardEx
 utilizes Visa and MasterCard platforms.  The company's state-of-the-art
 technology platform supports dozens of prepaid debit card applications,
 including instant issue, general purpose, payroll, travel money, government
 disbursements, medical benefits, teen/family spending, and virtual cards,
 among others.  For more information, visit http://www.CardEx.com.
 
      Contact:
 
      Gerald Poindexter
      Card Express, Inc.
      619.255.7433
      pr2@cardex.com
 
     This release was issued through eReleases(TM).  For more information,
 visit http://www.ereleases.com.
 
 

SOURCE Card Express, Inc.
    IRVINE, Calif., Aug. 30 /PRNewswire/ -- "Prepaid debit cards have a 'cool
 factor' and symbolize financial independence for many young consumers," says
 Alan Safahi.  "Armed with this convenient spending tool, the back-to-school
 shopping period is an unofficial holiday for the current generation of teens
 and college students."
     Safahi is President and CEO of Card Express, Inc. (CardEx), an Irvine,
 California-based, full-service debit card processor.  The company sells Visa-
 branded prepaid cards direct-to-consumer from its CardEx.com website
 (http://www.CardEx.com) and also designs custom debit card programs for banks
 and retailers.  These cards can be used online or at millions of merchant
 locations worldwide.
     It is widely known that second to the December holiday season, back-to-
 school is a prime time for retailers and for prepaid debit card use.  Safahi
 notes that "tweens," teens, and college students enjoy the immediate
 gratification of their annual "retail rush," but that "they might be unaware
 of the lasting versatility their prepaid card can possess."
     "Teen cards and certain back-to-school 'theme' cards can be reloaded with
 funds and some even have ATM features, thus creating a continuous spending
 tool," said Safahi.  He adds, "These features not only complement the back-to-
 school timeframe, but also permit the card's life to be extended throughout
 the entire school year.  Basically, prepaid cards can engage students in self-
 sufficient budgeting and spending."
     Safahi, the proud father of five children including a 15-year-old, says
 parents, who have essentially become "human ATMs" for their children, can also
 reap benefits from prepaid cards.  Specifically, since the card deducts funds
 from an existing reserve, parents avoid having to perpetually dispense actual
 cash to their children.  Safahi suggests several "quick tips" - ways parents
 can maximize the card's convenience, including:
 
     - Explain the purpose of the card with your child and create a workable
       budget
 
     - Advance the card with enough funds for everyday, school-related items
       and discretionary items
 
     - Reload the card at regular intervals (up to the dollar maximum) to gauge
       average spending/saving
 
     - Review the card usage with the kids and offer periodic encouragement and
       advice as needed
 
     - Allow funds to "rollover" as a reward, if your son or daughter doesn't
       entirely use the original loaded amount
 
     Ultimately, Safahi believes that the added value parents and young
 consumers realize from the prepaid card experience, enhances the card as both
 a fun and flexible spending tool.
 
     About Card Express, Inc.
     Card Express, Inc. is a leading processor of prepaid debit card products
 for financial institutions and corporate clients worldwide.  Established in
 1995 as a pioneer in the prepaid gifts and incentives industry, CardEx
 utilizes Visa and MasterCard platforms.  The company's state-of-the-art
 technology platform supports dozens of prepaid debit card applications,
 including instant issue, general purpose, payroll, travel money, government
 disbursements, medical benefits, teen/family spending, and virtual cards,
 among others.  For more information, visit http://www.CardEx.com.
 
      Contact:
 
      Gerald Poindexter
      Card Express, Inc.
      619.255.7433
      pr2@cardex.com
 
     This release was issued through eReleases(TM).  For more information,
 visit http://www.ereleases.com.
 
 SOURCE  Card Express, Inc.