IDT Financial Services is launching its pre-paid Mastercard, the Prime Card this month, with an integrated campaign targeting individuals who do not have access to UK bank accounts.
Cognito Marketing has devised the launch campaign, with a budget of more than £1million, which begins in London before rolling out to other urban centres.
Managing partner Bob Brenchley said that the launch would target localised pockets of the “un-banked”, such as recent migrants and ethnic communities. “If you are only coming to the UK for a couple of years, it is phenomenally difficult to open a bank account because of proof of identity rules. It will also appeal to older people who are less secure about buying online, for example.”
The campaign has the strapline of “No Forms, No Fuss” and will involve a mixture of geographic and community-based targeting. It will target 17,000 stores on the Pay Point or Epay networks with retailer education and sell- in activity. Other activities include POP, door drops to 750,000 homes in the capital, high street sampling, six sheet posters and ads on community sites, and local radio promotions.
The Prime Card can be purchased over the counter at local convenience stores. Cards can be loaded with between £10 and £150 and spent wherever Mastercard is accepted.
IDT Financial Services is a registered bank in the UK and has experience in the CTN sector through its phone cards business.
Stage two of the campaign will target Birmingham and Manchester from April
