O2 sells more than 50,000 money cards in Irish market

3 Oct 2011

Former O2 Ireland CEO Stephen Shurrock, who is to take up a new role as global chief commercial officer of Telefónica Digital, at the launch of the O2 Money card earlier this year

O2 has sold more than 50,000 of its popular O2 Money cards since the product was launched in the Irish market in February, the company said today.

O2 Money is a prepay money card onto which money is loaded in advance of it being used. Because of this, customers can only spend what they put onto the card, helping them to manage their budget more effectively.

It offers all the benefits and flexibility of a chip and PIN payments card in addition to the security and control of a prepay card.

A new O2 Money smartphone app has also been launched, making it even easier for customers to check their balance and track their spend.

The app, which is free, also allows customers to send money immediately from one O2 Money card to another while on the move, so it’s perfect for transferring money to a family member or friend who is abroad and may find themselves stuck for money.

According to customer purchase data, the O2 Money card has been used primarily for purchases via the internet, with 80pc of transactions to date made online.

The most popular e-commerce sites where the card is being used include airline and auction sites. Offline, the majority of usage of the card is in supermarkets and convenience stores.

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years