PAYjr To Offer Prepaid Cards ForKids

Register now

DALLAS - (04/26/06) – Start-up PAYjr said Tuesday itplans to introduce a financial education program for kids that iscentered on a prepaid card that parents can program to controltheir kid’s spending. The cards will be part of a broaderprogram aimed at teaching financial literacy, and will also includea reward system for household chores and a suite of mobiletechnologies that will notify teens when parents assign new choresor deposit money in their accounts. In the third quarter PAYjrplans to launch a prepaid spending card that will allow parents tomonitor what their children spend and restrict where the card canbe used.

For reprint and licensing requests for this article, click here.