Jassby Launches Mobile Payments Geared Toward Kids

October 19, 2024         By: Steven Anderson

Most anyone who’s become a parent knows that one of the biggest lessons that needs to be taught is the value of a dollar. With millennials starting their own families, it’s no surprise that they’re trying to spread their love of mobile payments platforms, and Jassby Inc. is looking to take advantage of that desire with the new Jassby app.

Jassby is a free app currently available for Apple devices only, and it allows parents to offer their kids a way to spend money with whatever restrictions the parent considers appropriate. It offers parents the ability to put cash in the kids’ hands for most any reason, including as a reward for accomplishing tasks at home or at school. Parents can also control where the cash is spent, so there’s little risk of the kids running out to Jim’s Liquor, Cigarettes and Firearms Warehouse with their allowances.

Yet the kids won’t be handling actual cash; they’ll instead handle a mobile payments system containing its digital equivalent. This means less chance of lost or stolen money, or potentially worse, lost or stolen credit cards.

Better yet, the app is secured by the standards of the Children’s Online Privacy Protection Act, and includes such measures as encryption systems, biometric authentication—likely a thumbprint or similar—and two-factor authentication tools. Since there’s no credit check required to download the app, much of that data never factors into the equation so it’s not even available to steal to begin with.

Such an app has a lot of different applications. Not only does it serve as a great way to teach kids about handling money by putting them on a fairly strict budget, but it also allows parents an easy, touchscreen way to monitor kids’ spending. It allows for straight-up cash incentives for school performance; at least two examples were spotted directly in the app, featuring rewards for certain scores on upcoming math and science tests. It removes the chances of forgetting to pay an allowance payment by handling it automatically.

There’s a lot to like about this app, and plenty of different use cases to put it to work. That should make for a lot of happy parents, and kids alike, who get much more painless lessons about the value of a dollar.