Russian Post Bank has introduced a mobile app for children, Post Bank.Junior.

According to the bank’s press center, the app is designed for kids aged 8-14 and allows them to collect money, shop online and make payments with distant control by their parents.

The app is based on a virtual Visa issued to the account of an adult client of the bank, who provides information and management of the card to their child via Post Bank.Junior. The child can add the card to the Android smartphone for contactless payment via Android Pay or Samsung Pay.

The client can replenish the balance on the card, control the transactions and set limits for the maximum amount allowed for spending. Moreover, the client can permit or prohibit certain actions (for instance, online shopping or money transfers to cards issued by other banks).

In order to enable the child to use Post Bank.Junior app, the client needs to get a children’s card in Post Bank Online.

“The children socialize and get familiar with digital technologies early now. Of course, our childhood was different, but nowadays children mimic their parents all the same. That goes for financial matters as well. Cash for pocket money is becoming a thing of the past, and at certain age the children want to behave like adults: pay with a card or via phone, use mobile banks. That is why we have developed Post Bank.Junior app. It will enable the parents to teach the children how to make educated financial decisions,” said Anastasia Maslennikova, Vice President, eBusiness Development Director, Post Bank.

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