Pocket Money in the Dig­i­tal Age

Economy of Belarus - - NEWS -

More Be­laru­sian par­ents start giv­ing their chil­dren pocket money on a bank card, the press ser­vice of the national pay­ment sys­tem Belkart told the Econ­omy of Be­larus Mag­a­zine.

The first cards for chil­dren (aged from 6 to 18) were is­sued in Be­larus a few years ago, and have been gain­ing mo­men­tum since then. Cur­rently, chil­dren’s cards (of the pay­ment sys­tems Belkart, Visa and Mastercard) are is­sued by seven Be­laru­sian banks: Be­larus­bank, Be­la­gro­prom­bank, Belin­vest­bank, Alfa Bank, Tech­nobank, BSB Bank and RRBBank.

Belkart chil­dren’s cards ac­counted for 85.9% of the to­tal chil­dren’s cards in Be­larus as of 1 April 2016. As of the same date, the national pay­ment sys­tem is­sued 23,000 such cards, up 14% from 1 April 2015.

“Belkart chil­dren’s cards are is­sued as an ad­di­tional card to the par­ents’ cards and have a spe­cial sign in the form of a kid’s palm, the press ser­vice of the Belkart pay­ment sys­tem said. The card pro­vides chil­dren aged 6 to 18 with the pos­si­bil­ity to make cash­less pay­ments. Au­to­mated SMS will in­form par­ents on ev­ery trans­ac­tion con­ducted with their chil­dren’s card. It is easy to trans­fer any sum of money to the card. In case with cash, it is al­ways much more dif­fi­cult to con­trol your chil­dren’s spend­ing,” the press ser­vice of the pay­ment sys­tem said.

Not long ago, Belkart and Be­larus­bank came up with a new pay­ment de­vice for school chil­dren called Stu­dent’s Card. It can be used as a bank card, a free pub­lic trans­port ticket, a pass card for the school elec­tronic ac­cess sys­tem, and also as a li­brary card. Stu­dent’s Cards are is­sued for Minsk schools equipped with the elec­tronic ac­cess sys­tem.

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