Word: icanbuy
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...three sites are secure and approved by TRUSTe, a nonprofit organization that certifies that websites meet certain privacy standards. iCanBuy takes the extra step of shielding young shoppers from merchants' marketing e-mail. And under a federal law made final last month, the Children's Online Privacy Protection Act, all sites requesting identifying information from children will soon have to meet strict guidelines. If the website operators intend to post or sell information from a child under 13, they will have to get written or oral parental consent, or use a new kind of digital identification technology...
Once payment and privacy are accounted for, each of the three new e-commerce sites has its own strategy for pushing merchandise to teens and the grownups who love them. At DoughNET, special promotions like free movie tickets with selected purchases or contest entries lure young shoppers. On iCanBuy, kids can peruse celebrity wish lists (tip: Britney Spears wants a WNBA basketball, body glitter and, oddly enough, her own CD). At RocketCash, a top-10 list of user purchases lends some insight into what's hot with the masses. Recent chart toppers include a Limp Bizkit CD and wooden bracelets...
Tempering their commercialism, two of the sites offer practical financial advice and services. At iCanBuy and DoughNET, young people can open FDIC-insured bank accounts, learn about investing and donate to a charity. Shopping is still the main draw for youngsters, commonly more concerned with stuff than savings, but the sites' grownup money advice may be winning a few converts...
Thirteen-year-old Elisabeth Laskey of Gray, Me., gets $25 a month deposited into her iCanBuy account in lieu of an allowance. So far Elisabeth has bought some CDs, pencils and shirts. "I've only been on for a couple months, so I don't have much money saved yet," Elisabeth says. "But I'm thinking about saving some more and maybe donating some to charity." Elisabeth has learned one major financial lesson from her online shopping account: "Once it's in there, it's my money, and I get to decide what I want to do with it. That...
...children are already bombarded with opportunities to spend money, and the options are about to explode through online shopping geared specifically toward kids. Several new websites, such as Icanbuy, Rocketcash and DoughNet, will set up accounts in a child's name. Parents can deposit a small amount from a credit card or use Grandma's birthday money as their child's online slush fund. These cybermalls are only too happy to point your child toward must-have products. They also offer FDIC-insured banking services so that little Timmy can watch his money earn interest between spending binges...
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