The new Rooster visa card is launching soon to equip kids with the right tools to manage money in a digital age.
The Rooster Card is a visa pre-paid card. It is also launching in partnership with Corner Card UK.
The card will also feature new CVV technology, making it even more secure for online transactions. Furthermore, the three-digit security code will only be accessible in the app and will change after every transaction.
Parents often have fears over allowing their kids to buy online. This new technology makes it practically impossible for card details to be stolen or copied. In addition, the Rooster Visa card allows parents to transition their kids from a tracker platform to a prepaid card.
With its products, RoosterMoney wants to transform the way kids communicate with their financial information. Preparing the next generations for digital banking and the challenges that come with it can never start too early.
Rooster Visa Card: expanding the mission
RoosterMoney officially launched in 2016 with a mission to make kids more responsible with their money for the future.
Since its launch, RoosterMoney has expanded the number of currencies it offers to over 50. Furthermore, in the last 18 months the customer base has tripled to over 600,000.
Although it wants kids to be more independent with money, RoosterMoney also acknowledges that online security is important for parents.
Therefore, the card will be no overdrafts, so there is no risk of kids overspending.
RoosterMoney CEO, Will Carmichael, said: “We’re delighted to be able to offer families our unique Rooster Card, which is a natural progression for the kids who have learnt the basics with our tracking tool.
“A bridge between the tracker and a bank account. We are helping parents to empower their kids to make considered spending choices on their own, both online and in store. It was important to us that we built a secure product, utilising cutting-edge security technology, and I’m proud to say we now have a leading offer for families with kids of any age. Kids can start as young as four using the app as a star or reward chart, before graduating to a pocket money tracker and then, ultimately, the Rooster Card whenever the parents and kids are ready.”
Additional features of the new card include:
- Real-time spending notifcations – keeping parents in the loop on their children’s spending.
- Decide where the card can be used: in stores, online or at ATMs (limited to child appropriate merchants and codes).
- Touch ID login.
- Parent account with personal sort code and account number.