Osper, a new UK startup, has introduced a new prepaid card and mobile app-based service for the country’s seven million 8-18 year young children.
Osper is the brainchild of former maths teacher and M-Pesa staffer Alick Varma, who aimed to give children the financial freedom.
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The new prepaid MasterCard card can be used by children for online and in-store purchases, and for ATM withdrawals.
The iOS and Android-based mobile app allows them to check balance instantly and monitor transactions through text alerts.
According to Osper, parents can access the app from their handsets, allowing them to monitor child’s spending and load funds.
Varma said: "Osper gives young people the freedom and control needed to ‘learn by doing’ within the framework of a safe and secure family environment."
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By GlobalData
