The 'Abacus' Prepaid Debit Card Helps Kids with Personal Finance
Michael Hemsworth — November 9, 2019 — Life-Stages
References: abacuscard & betalist
Teaching financial best practices to children is essential to ensure they get started in life on the right path, so the 'Abacus' prepaid debit card is positioned as a great option to help with the process. The financial education platform is based on the principles of saving, spending and giving, and shifts the system towards the digital environment instead of requiring cash. This addresses the shift away from physical money and the piggy bank savings system that has been the main method for children to save and spend their money for many years.
The 'Abacus' prepaid debit card will intuitively allow children to receive their allowance and also works to get them ready for the world of digital currency as they mature.
The 'Abacus' prepaid debit card will intuitively allow children to receive their allowance and also works to get them ready for the world of digital currency as they mature.
Trend Themes
1. Digital Financial Education - Using platforms like the 'Abacus' prepaid debit card to teach children financial best practices in a digital environment.
2. Shifting Away From Cash - The 'Abacus' prepaid debit card addresses the trend of moving away from physical money and embracing digital currency for financial transactions.
3. Personal Finance for Kids - The 'Abacus' prepaid debit card helps children learn the principles of saving, spending, and giving from a young age.
Industry Implications
1. Financial Technology (fintech) - The 'Abacus' prepaid debit card presents an opportunity for fintech companies to develop innovative solutions for educating children about personal finance.
2. Digital Payments - The 'Abacus' prepaid debit card aligns with the growth of digital payment solutions and offers a seamless transition for children into a cashless economy.
3. Education Technology (edtech) - The 'Abacus' prepaid debit card merges finance and technology, presenting an opportunity for edtech companies to create engaging and interactive financial education platforms for children.
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