As mentioned before, merchants see issues on both sides of the counter when it comes to transactions. Whether it's a dispute over a fee or a new security problem that puts customers at risks, every piece of the payment equation should matter, even if it comes from an unlikely source. Last week, pop singer Justin Bieber began endorsing a system of cards geared towards his young fans and has appeared in promotional spots encouraging basic money management habits.
The company behind the card, called SpendSmart, allegedly allows teenagers and more mature children the chance to make electronic purchases while still being watched over by parents, who can cancel transactions as needed. Bieber will be using his fame to bring the message to the card's key demographic, and will utilize his own social media channels to do so. According to the New York Times, the brand was originally known as "BillMyParents."
In the first video, the media sensation appeals to his fans while attempting to highlight his own financially strapped roots.
Predictably, this service has prompted reactions from critics like Consumer Reports, which has spoken out against the fees associated with prepaid cards in the past. And even though SpendSmart is claiming that this will teach responsibility, it's hard not to think of this as the latest in a trend that also saw the Kardashians have their own card three years ago, now defunct.
If your retail business makes use of credit card processing software (and chances are it does), keeping current with user trends can help maximize safe interactions and prepare employers for new developments as users try out different methods of buying. Teenagers especially can prove unaware of the repercussions of their shopping in this kind of situation, so it may suit merchants to actually pay attention to the Beliebers, as long as they're good for it.