Kids' banking in the age of contactless payments

I can’t remember the last time I used money, as in actual notes and coins, to purchase something. I’ve become the kind of person who will walk out of a bakery if I see a “cash only” sign on the wall; if I can’t buy something with my watch, I’m probably not going to buy it.

Even those awful rides and lolly machines in shopping malls support NFC these days, so the old excuse that “daddy didn’t bring any dollars” no longer works with my three-year-old., a new service that bundles together a prepaid mastercard, wearable NFC band and smartphone app; so any child can tap and pay for their babycino.

If your child has their own device, they can track their spending and set savings goals within the app, all within a colourful and easy to navigate user interface. Getting into the service will cost between $9.95 and $40, depending on whether you just order a prepaid card or the full bundle which includes a personalised card, a rubber NFC bracelet that looks like a wafer thin Fitbit and a “Keeper”; a tiny little rubber nubbin that can attach the NFC chip to a child’s current watch or Fitbit so they don’t need to wear two bands.

My own child is still a bit too young to understand the concept of an allowance, but when the time comes I’ll want a prepaid debit card for NFC and online purchases. The added bonus of a simple app with savings goals and a cheap and cheerful wearable that she can lose without too much pain means I’ll be choosing something like Zaap. This feels like the modern equivalent of the children’s passbook I used when I was a child.

Kids spend until it decline. So easy to spend when kids have no idea where money comes from.

Yeah no thanks mateys

A National Integrity Commission needs to have Power to Investigate Self-Financially Interested State/Territory Government Guardianship Tribunals, Public Trustees & Guardians, that these Govs have protected from Public Scrutiny for over 3 decades!

Gosh what could go wrong with this

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