Chore and Allowance Website
Parents Pay To Kids Pre-Paid Mastercard
There's a new website in town that wants to help you teach your children about chores, responsibility and money management. It's called Pay Jr. and the concept is simple. You sign up, you and your child pick the chores that they will be responsible for, you set the dollar amounts assigned to each chore, you set your reminder services and you're off and running. The system will track what chores need to be done and when, as well as send alerts to your child regarding unfinished chores through whatever service you choose ie: email or text messages. The system also keeps tracks of what payments are owed to the child and if they are under 13 years the parent needs to square-up with them once the chores have been completed. If your child is over 13 years, they have a pre-paid Mastercard for teens that you can deposit to automatically once the chore has been done and your teen will be notified by text or email that they have a deposit for the work completed.
Trend Themes
1. Chore Accountability - Pay Jr. is tapping into the growing trend of parents seeking to teach responsibility and accountability through chore management.
2. Prepaid Cards for Teens - The use of prepaid cards for teens is an emerging trend, offering parents a safe and convenient way to provide financial independence to their children.
3. Digital Chore Tracking - The digitization of chore tracking is a growing trend, allowing parents and children to easily manage and track chores and payments online.
Industry Implications
1. Fintech - Pay Jr.'s use of prepaid Mastercards puts it within the fintech industry.
2. Parenting and Education - Pay Jr.'s focus on teaching kids responsibility and money management puts it within the parenting and education industries.
3. Technology - Pay Jr.'s use of digital chore tracking positions it within the technology industry.