MySpace and ANZ have teamed up to offer a prepaid Visa card for MySpace users.

The ‘MySpace Recharge Card’ is the first reloadable prepaid Visa to be offered in Australia, designed to offer specific benefits for users of social media. Card holders will be able to use the product both online and offline, spending only their own pre-loaded money. It will also allow users to top up their mobile prepaid credit through a dedicated application.

Nick Love, MySpace business development director, Australia, explained the consumer benefits:

“The MySpace Recharge prepaid Visa card is unique in that it allows under-18s and people that don’t own a credit card the freedom and security to spend their own money on items such as concert tickets and clothes, at millions of online and retail stores worldwide. These options are only set to grow with the upcoming launch of a range of ecommerce services in the new MySpace Music service.”

John Harries, ANZ managing director, retail products, said prepaid cards were continuing to grow in popularity domestically and internationally due to convenience, flexibility and security. He explained that customer research has shown parents are seeking secure alternatives to cash for young people and the card should be an amenable response for both parties.

“We are pleased to be the first bank in Australia to offer this kind of card for social networking site users. You don’t have to be an ANZ customer to take advantage of this handy new card because the MySpace Recharge card is not linked to a deposit account,” said Harries.

MySpace are promoting the product launch by offering users who sign up during September a chance to win tickets to Britney Spears’ ‘Circus Tour’.