Occupy Wall Street group to issue debit card

An offshoot of the Occupy Wall Street Movement is planning to take banks with the launch of a pre-paid debit card.

To mark the second anniversary of protesters' arrival in Zuccotti Park, the Occupy Money Cooperative (OMC) is promising to start a revolution in banking, offering low-cost, transparent financial services to the 99%.

A fortnight ago it began asking for donations to get its first product - a pre-paid debit card - off the ground. At the time of writing, the group had raised just under $3,500, well short of its stated goal of $900,000.

OMC has also come under fire from some within the Occupy movement because its product relies on one of the established financial services industry's biggest players, Visa.

Carne Ross, a former British diplomat and OMC board member told the New York Times that he respects the objections to a relationship with Visa but that it is essential if the card is to be of any use to customers.