Doc Hollywood Kidz is teaming up with Relay Capital Corporation to bring more fun and value to kids across the country. The two companies announced plans this week to release a new stored value Master Card/Visa that will offer teens and pre-teens special incentives, bonuses and awards. The bonuses will be - not surprisingly - entertainment related. There are plans in the works to include discounts on movie tickets, music CDs and music downloads.
The Doc Hollywood Kidz card will function as a stored value Master Card or Visa card, allowing teenagers and pre-teens to make purchases with cash 'loaded' onto the card. Stored value cards function like debit cards that aren't connected to a bank account. Cash can be loaded onto the card, adding value to the account which can then be used to make purchases at any store or other establishment where Visa or Master Card is honored.
Because the cash must be there before the card is used, says E. Reese Bogle III, CEO of Relay Capital Corporation, "This can help children learn the value of budgeting money and gives parents more insight and control over what their teens are spending their money on."
Parents can load money onto the card in lieu of giving out cash allowances, for instance, and use the Doc Hollywood Kidz card as a tool to teach their kids responsible money management and budgeting.
Doc Hollywood Studios is an entertainment holding company which will, at the completion of a pending merger, be the major stockholder of Doc Hollywood Kidz / Doc Hollywood Records, and parent to Doc Hollywood Productions, DH1 Reality TV, Bop City Records, and Artist International Management. The company is involved in music, video and movie production and hopes to make a big splash in the market with the stored value Doc Hollywood Kidz card.
"We hope to have hundreds of thousands of cards in teenagers' hands within a year," said Steven Saxton, Doc Hollywood's CEO. "We want to make these cards very special and very safe for kids to use and enjoy."
The Doc Hollywood Kidz card will be available in limited test markets before being launched nationally to teenage audiences. Once they're released, the cards will be available through various outlets with no credit check, no employment requirement and no bank account needed. The cards will be accepted at any location that accepts Master Card or Visa.
15 Aug 2005
