Provides a contactless payment solution for children and teenagers through customizable, wearable devices linked to a parent-controlled app. This system enables secure, limited spending at merchants with contactless terminals, helping families manage allowances and teach financial responsibility.
Funding
$10.6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Managing and tracking children's spending can be challenging for parents, especially when providing them with the independence to make purchases at contactless payment terminals. Traditional methods of providing allowances may not offer sufficient oversight or controls for secure and responsible spending habits.
Solution
Money Walkie offers a contactless payment solution designed for children and teenagers, utilizing a customizable wearable device linked to a parent-controlled mobile application. The system allows parents to securely provide funds, monitor spending in real-time, and set spending limits, promoting financial literacy and responsible spending habits. The wearable device enables children to make purchases at merchants with contactless payment terminals, within the parameters set by their parents through the app. The mobile app provides features for parents to manage and reload the Walkie device, track expenses, set spending limits, and block or unblock the device as needed.
Target Audience
The primary target audience includes parents seeking a secure and controlled method for providing children and teenagers with access to funds for contactless payments, as well as children and teenagers learning to manage their finances responsibly.
Features
- Wearable contactless payment device designed for children and teenagers
- Parent-controlled mobile app for managing funds and monitoring transactions
- Real-time tracking of spending activity
- Customizable spending limits and parental controls
- Option to block or unblock the device remotely
- Available in various designs and limited edition collaborations (e.g., Naruto)
- Accessory options such as lanyards and protective cases for personalization
- Rechargeable through the parent's mobile app