American Express yesterday launched PASS - "a prepaid reloadable Card parents give to teens and young adults, providing peace of mind to parents as a safer alternative to cash, credit and debit cards. PASS, which will be sold and marketed exclusively to adults, is currently available as a preview to American Express Cardmembers and will be available to the general public this summer." READ MORE »

In an article titled "Final Semester for Credit Cards Aimed at Students?" in this morning's American Banker, Maria Aspan writes about the new rules affecting marketing of credit cards to anyone under 21 that take effect next February as part of the Credit Card Accountability, Responsibility and Disclosure Act. Between now and then, Aspan writes, "some industry members expect to see issuers conduct business as usual when marketing and issuing to students — if not accelerating their efforts."

PayPal has announced the launch of the Student Account - calling it "a fast and secure way for U.S. teens to shop online using PayPal and in stores with the Student Card, while providing parents with a variety of monitoring capabilities."

According to PayPal, "the Student Account eliminates the hassle of everyday money exchange between parents and teens, while giving teens the chance to learn good spending habits through the experience of being responsible for their own money. Parents can establish up to four PayPal sub-accounts for their teens, transferring funds into those accounts when needed, on a one-time or recurring basis." READ MORE »

Discover Financial Services has announced the launch of Current by Discover Card - calling it "an innovative debit card for teens that helps them track and manage their spending and keep their money safe. The card also helps parents foster financial responsibility in teens, which is especially critical in today’s economy." READ MORE »

UreLife has announced 'the UK's first ever prepaid card to incorporate Government-approved proof-of-age verification.' By combining a prepaid Visa debit card with a colour photograph and PASS (Proof of Age Standards Scheme) accredited proof-of-age hologram, the card provides a new way for parents and retailers, and for the first time online retailers, to stop underage spending on age-restricted goods. READ MORE »

APACS, the UK payments association, has launched two new advice guides "offering practical advice on choosing a plastic card for a teenager or young adult. One of the guides, Choosing cards - a guide for the under 18s , is aimed at young people, and the other, Using cards - a guide for parents , is for their parents. These form part of a series of consumer advice guides produced by APACS aimed at simplifying personal finance."

M.P. Dunleavey reports for the New York Times on payment cards being marketed "squarely at teenagers". A recent survey is cited concluding that "less than half [the teenagers surveyed] said they understood how a debit or credit card worked."

Internet Retailer reports on a recent survey by Stars for Kidz that reported that "77% of children 8 to 14 have completed an online transaction."

PAYjr has announced a prepaid card for teens that allows them to "upload pictures for the design of their card."

PAYjr has announced a strategic marketing partnership with the Credit Union Association of New Mexico (CUANM) that enables CUANM to offer a co-branded version of the PAYjr Programs to their existing customer base of more than 500 credit unions as well as future clients of the association's CU Succeed youth financial education program.

Obopay has announced a new Sponsored Accounts feature that the company says "allows anyone under 18 to benefit from the fun, convenience and security of sending and receiving money in real time via the mobile phone. Through this new family enhancement, parents can provide each child with an Obopay account linked to his or her own mobile phone. With Obopay, kids can now enjoy the freedom of spending cash in a cool new way, while parents get the tracking and control they need to ensure fiscal guidance." Obopay has also announced it is now offering a new "Refer-A-Friend" program to incent signups. It rewards Obopay users who refer their friends to signup with Obopay with $5 for each successful referral.

Vicki Lee Parker writes for the McClatchy Newspapers about PayJr and other prepaid debit cards targeting teens and even younger children. She asks "is putting plastic into a child’s hand, especially one under 12, really going to teach the child how to manage money?

Caren Weiner Campbell writes for Bankrate.com writes about "how best to introduce kids to the temptations of swipe-and-sign" in an article about teens and cards titled "Educating Teens About Credit".

PAYjr, a free online money management system for teens, has announced it is now offering a prepaid MasterCard card, issued by MetaBank, as a companion to their online PAYjr service that helps parents teach their teenagers how to manage their allowance and develop better spending habits.

Amy Hook of MarketWatch reports in today's Wall St. Journal about a slight downward trend in credit card balances of college students. Several recent articles have highlighted a decline in the acceptance of credit cards by colleges and universities for tuition payments - as university administrators are steering students to pay tuition bills using electronic checks instead of cards and, in the process, saving merchant card discount fees the universities would otherwise have to pay.

APACS, the UK payments association, has published a new guide, Cards and Students, providing "comprehensive financial advice for students about to start university."

Catwalk Distribution in partnership with Trycera Financial, has announced the Model Prepaid MasterCard, a "full service financial tool designed to help professional and aspiring models and actors manage their finances smarter, faster and safer than ever before."

In a column titled "Cash preferable to credit for kids", the Washington Post's Michelle Singletary writes about her views on why credit cards (including prepaid cards) are just bad news for kids and teens.

Angela Delli Santi reports for the Associated Press on new legislation introduced by New Jersey Sen. Robert Menendez that would "strengthen consumer protections against zealous marketing practices and abuses by credit card companies" who he says will issue credit cards to "anyone with a pulse and a social security number". Read on for the full text of the press release issued by his office on his "Credit Card Bill of Rights".

Jolayne Houtz writes for the Seattle Times about the use of credit cards by high school teens.

Will Shanley reports for the Denver Post that according to the 2006 Interprise Poll on Teens and Personal Finance the percentage of teenagers nationwide who own credit cards has not increased in recent years, according to an annual poll of teenagers. About one in 10 U.S. teens, 10.3 percent, reported owning a credit card. That compares with 13 percent of teens who said they owned a credit card in 2004 and 11 percent in 2005.

Melissa Dahl writes for the Sacramento Bee about teens and credit cards - and the responsibility for using cards appropriately.

In a column titled "Plastic, Not Fantastic," Steve Rosen writes for The Kansas City Star about kids and money and asks whether 10 year olds really need their own debit card - in particular, the Allow Debit MasterCard for teens.

Harris Murray writes for the Times and Democrat in Orangeburg, SC about how she finds it reassuring to be able to see her daughter's MasterCard charges online while she's on a foreign trip away from home.

Lisa Bachelor writes an opinion piece for the UK's Sunday Observer newspaper about a teen prepaid Maestro spending card that BlueCorner introduced last week.

Jessica Mintz reports for the Wall St. Journal on the three primary payment card choices for kids: a credit card; a debit card linked to a checking or savings account; or a prepaid debit card that can be loaded with money by parents or children.