Online Payment Co. Targets U.S. Hispanics

LOS ANGELES (06/26/2000) - InternetCash Corp. launched last week a Spanish-language section of its site aimed at U.S. Hispanics and designed to let them shop online without a credit card.

The new section of the site (http://www.internetcash.com/) offers -- like the English section -- the InternetCash pre-paid card. Similar to a pre-paid phone card, the card can be used as an alternative way to shop online, and it eliminates the need to disclose personal data as is usual with credit cards, according to a company press release.

The pre-paid card now is available in US$100, $50, $20 and $10 denominations at convenience stores that include 7-Eleven, Dairy Mart, Short Stop, and Uneeda Check Cashing. It is being sold in California, Connecticut, Massachusetts, New York, Ohio, Pennsylvania and Vermont.

Once they have bought a card, to use it consumers just have to type a pin number, printed at the back of the card, which provides greater security and privacy to consumers, the company said.

After users provide the pin number, the InternetCash card is activated and can immediately be used for online shopping at over 150 online retailers including ArtistDirect.com, SunglassHut.com, TWEC.com, and Overstock.com, said the company.

During a U.S. Hispanic Market conference held last week in Santa Monica, California, Daniel Marein-Efrón, Latin America director for New York-based InternetCash, said the startup launched its English-language service on March 24, targeting the U.S. teen community.

The company will also focus on Latin America's three main markets - Argentina, México and Brazil -- in the near future, Marein-Efrón told reporters at the event.

The privately-owned company has received funding of over US$12 million to date, according to the press release.

InternetCash, in New York City, can be reached at http://www.internetcash.com.

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