Bluecorner credit cards,launched by MasterCard Europe would enable the young ones to control their spendings as the card charges a fee to open an account and for using them to withdraw cash from ATMs. They will also be penalized for replacing the card or canceling the account. The reins of the card will ultimately be in the hands of the parents as they will control the spendings of their child by limiting the amount they deposit in the account.
According to Watson:
A cashless society would mean total control over everyone as people would be forced to pay for everything electronically. Every purchase would be traceable and the ability to buy or sell could be halted immediately at any given moment.This just shows that there is a credit card, which aims at complete debt control and increased savings for the teens.
