...launch a social media debit card earlier? (PRE-PAID DEBIT CARD + SOCIAL NETWORKING = FACECARD)

Wow, finally, something that could trump Facebook for SM coverage.

Facecard , launched by edo Interactive and Mastercard, is a new prepaid debit and gift card aimed at Gen Ys and Millennials. Like other prepaid debit cards it appeals to parents who want to introduce their tweens and teens to spending freedom while also teaching them financial responsibility (with the benefit of protection: there is no possibility to rack up overdraw charges with a prepaid card). However, for this plugged in group, facecard's unique draw is its online social networking component.

Card members create a customizable profile on the facecard site which allows them to connect with other members and ultimately electronically send and receive funds from friends and family. Sharing money electronically definitely makes sense for a generation that loves to give virtual gifts on social networking sites such as Facebook (where gifts are icons meant to beautify the recipients profile page) and with whom microlending is a growing trend. Facecard is partnering with retailers to offer retailer-specific gifts, called Prewards, replacing the accumulation of post-Christmas gift cards and will also offer targeted promotions based on members' spending habits.

Crucial to connecting with young people today, facecard has a multiplatform approach that merges online, mobile and real world. Accounts can be managed via the website, by mobile phone or at the good ol' brick and mortar bank. When money is transferred to an account it is available within 15 minutes - that means that kids can call their parents from the mall and have money on their card before they leave the dressing room. Additionally, facecard has uploaded a fun amateur-style informational video on YouTube and they have a flickr page showing pictures of their street team at this year's Bannaroo music festival. If that's not cool enough, they're philanthropic as well! They partnered with the Bannaroo to donate $10,000 to StopGlobalWarming.org.