The Thumzap Payment Button Lets Parents Approve Teen Spending Online
Alyson Wyers — March 10, 2016 — Business
References: thumzap & springwise
This payment button gives parents approval over their children's online purchases. Based in Tel Aviv, Thumzap is designed specifically to keep teen mobile spending in check, something that is increasingly relevant as retailers turn to a mobile-first approach when it comes to e-commerce, not to mention the prevalence and near-constant use of smartphones among tech-savvy young people doing some online shopping.
The secure and simple to use system notifies parents when their teenage kids buy something online and allows them to approve the purchase. Although many brands target this age demographic, teens often rely on their parents for money, making the payment button a great way to manage spending and catch extraneous expenses early on.
The secure and simple to use system notifies parents when their teenage kids buy something online and allows them to approve the purchase. Although many brands target this age demographic, teens often rely on their parents for money, making the payment button a great way to manage spending and catch extraneous expenses early on.
Trend Themes
1. Mobile-first Approach - The rise of mobile-first e-commerce presents an opportunity for payment approval apps like Thumzap to help parents manage teen spending.
2. Tech-savvy Youth - The prevalence of smartphones among tech-savvy young people creates a need for innovative solutions like Thumzap to keep online shopping in check.
3. Parental Control - Parents' desire to have control over their children's online purchases fuels the demand for apps like Thumzap that provide purchase approval notifications.
Industry Implications
1. E-commerce - Thumzap's payment approval feature aligns with the increasing adoption of mobile-first e-commerce strategies, offering a disruptive solution for managing teenage spending.
2. Parental Monitoring - Thumzap's purchase-approving app fills a need in the market for parental control tools, presenting disruptive innovation opportunities in the parental monitoring industry.
3. Youth Retail - Thumzap's secure and simple system caters to the teen demographic, presenting a disruptive opportunity for brands targeting tech-savvy youth and their parents.
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