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Justin Bieber Advertising Pre-Paid Debit Cards

He's being paid millions to appear in videos promoting the cards


BieberTroubled teen heartthrob Justin Bieber’s latest videos don’t show him singing.

Instead, the Canadian pop star faces the camera to talk about money. The videos are part of a promotional campaign aimed at teenagers from SpendSmart Payments Company (PINK:SSPC), which provides prepaid debit cards. The videos have been posted on Bieber’s YouTube channel, the New York Times notes.

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After discussing his own family’s former money issues, Bieber tells views they should discuss money with their families to get better handle on spending. Bieber, whose YouTube channel has 52.4 million followers, will receive $3.75 million for appearing in the videos under a 14-month agreement.

Bieber will also get options to acquire two million shares of company stock. SpendSmart debuted in 2009, originally named BillMyParents. It’s average cardholder is 16 years old.

SpendSmart cards carry MasterCard’s (NYSE:MA) logo. The cards provide parents the option of blocking purchases made on selected websites and spending alerts that parents can receive via text messages. The cards will also suspend purchasing privileges if a questionable purchase is detected.

However, Consumer Reports does not recommend SpendSmart pre-paid cards, since they do not create a credit history for users. The card also charges moderate usage fees.

Earlier this month, sources said that Bieber could face criminal charges resulting from a heated altercation with one of his neighbors.

Article printed from InvestorPlace Media,

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