Cash cards for kids - digital banks race to capture the next generation

TheStar Wed, Nov 18, 2020 04:08pm - 3 years View Original


U.S. digital payment apps such as PayPal Holdings Inc's Venmo and Square Inc's Cash App, which have become a common way for consumers to send money to each other, do not allow users under the age of 18.

LONDON: When John Hibbs' daughter Xanthe received her first bank card in the mail, the six-year-old spent the next week Googling how to buy a horse.

Hibbs and his wife Kate had got Xanthe a newly launched children's debit card from UK digital bank Starling, one of a number of new offerings from fintechs aimed at children and teenagers.

"The earlier we can start the learning process of using a card, the earlier she can learn that you can't just go out and buy a horse," said Hibbs, who runs a charity.

...

Full Article on TheStar

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

KAMDAR 0.180

Comments

Login to comment.