Bieber Promotes Prepaid Card

Francois Mori/AP

Who knew financial literacy was one of Justin Bieber’s many talents? Despite regulators’ widespread criticism of the prepaid-debit-card industry, Bieber and SpendSmart Payments Co. have launched a card for teenagers that they say will teach Beliebers how to manage their money with parental oversight. Bieber is being paid $3.75 million for promoting the card through a series of videos on his various social platforms.