Solo (debit card)
From Free net encyclopedia
Solo is a debit card produced by Switch Card Services in the UK. It is designed for people under the age of 18 or on lower incomes. One particular feature of the card is that all transactions require electronic authorisation from the issuing bank. Such authorisation will not be given if there are not sufficient funds in the cardholder's account and so it is not possible to incur an overdraft.
The card was launched on 1st July 1997. Its sister card is Switch. As of 2004 there are 7.2 million Solo cards in circulation in the UK.
Its main rival is the Visa Electron debit card, which can also be issued to under-18s. The main advantage of Visa Electron over Solo is that unlike Solo it is now becoming widely accepted internationally. There are however some UK merchants who do not yet accept the Visa Electron card. In addition many Solo cards function as Maestro allowing cardholders to use their card abroad.