Celebrities want to connect with their fan base. But do they need to connect to their fan’s wallets so closely? Over the last few weeks, we saw the Kardashian sisters launch, and then stop, a prepaid debit card program due to regulatory scrutiny and media outrage. Sometimes too much press can be a bad thing. So what celebrities are up next? And will they learn from the Kardashian mis-launch?
In it’s October issue, the Source magazine hinted that Young Money Entertainment (an American record label founded by rapper Lil Wayne) was going to launch a line of prepaid debit cards. The magazine provided some shots of early versions of the design of the Young Money prepaid card.
The Young Money debit card website is up and running, but provides little information about the cards, their features or their fees. (although there are some card images that look cool, along with a gangsta tag line of “Young Money Debit: All in One Swipe“).
The website also does not provide any information about the issuing bank, or even the payment card network, behind the card program. Maybe MasterCard is a little gun-shy after the Kardashian program?
Hopefully the folks at Young Money take a hint from the Kardashian debacle — connect with your fans, but do it in a way that encourages financial responsibility. A prepaid card program can both promote your brand, as well as provide fees that don’t hurt your fan’s wallets.
As an interesting update to the Kardashian debacle, the program manager of the ill-fated program has sued the Kardashians, seeking $75 Million in damages.