October 19, 2018 By: Steven Anderson
Most of those who have become parents know that one of the greatest lessons to be taught is the value of a dollar. With millennials starting their own families, it’s no surprise they’re trying to spread their love of mobile payment platforms, and Jassby Inc. is looking to tap into that desire with the new Jassby app.
Jassby is a free app currently available for Apple devices only, and it allows parents to provide a way for their kids to spend money with whatever restrictions parents see fit. It offers parents the opportunity to put money in the hands of children for most reasons, including as a reward for doing chores around the house or at school. Parents can also control where the money is spent, so there is little risk of children rushing to Jim’s Liquor, Cigarettes and Firearms Warehouse with their allowances.
Yet children will not be handling real money; instead, they will manage a mobile payment system containing its digital equivalent. This means less risk of money being lost or stolen, or even worse, lost or stolen credit cards.
Best of all, the app is secured by the standards of the Children’s Online Privacy Protection Act and includes measures such as encryption systems, biometric authentication (possibly a fingerprint or similar) and tools. two-factor authentication. Since there’s no credit check required to download the app, a lot of that data never gets into the equation, so it’s not even available to steal to begin with.
Such an application has many different applications. Not only is this a great way to teach kids how to manage money with a fairly tight budget, but it also gives parents a simple and tactile way to monitor kids’ spending. It allows direct cash incentives for school performance; at least two examples were spotted directly in the app, with rewards for some scores on upcoming math and science tests. It removes the chances of forgetting to pay an allowance by processing it automatically.
There is a lot to love about this app and many different use cases to implement it. This should ensure that many happy parents, and children, receive much more painless lessons on the value of a dollar.