The PeoPay KIDS application will be available in the Apple App Store today. On days also on Google Play. The youngest customers can also count on a promotional welcome: PLN 50 pocket money to start.
Bank Pekao SA presented the first work of its own Innovation Laboratory: the financial and educational ecosystem of PeoPay KIDS. It consists of the PeoPay KIDS mobile application and a panel for parents. To start, Pekao has prepared a promotion: PLN 50 pocket money as well as 2% on the My Treasury savings account up to 3,000 PLN for 4 months from account opening.
This is a breakthrough solution on the Polish market - says Bartosz Zborowski, Director of the Innovation and Payments Department at Bank Pekao SA
PeoPay KIDS with piggy banks and trainers
The PeoPay KIDS system is intended for children from 6 to 13 years old. They pay neither for the application itself nor for the dedicated payment card. In this solution, a youth-friendly account or My Treasure account will be useful. With PeoPay Kids you can, among others top-up a pre-paid phone or make a transfer - after parents have accepted it. A separate section is "Piggy Banks" - a mechanism that allows Pekao's youngest customers to collect money for a specific purpose. A payment card is also connected to PeoPay KIDS, for which the bank will not charge any fees.
While working on PeoPay KIDS, Pekao's internal IT department consulted its activities with future beneficiaries - the youngest clients.
It is a solution developed with children in mind for children. Nothing appeared in the application without their consultation. Thanks to this, including PeoPay KIDS, we immediately enter the child's world - his world of finance - assures Bartosz Zborowski.
Special trainers available in the application: Lis, Złotówka or Żubr will be responsible for the financial education of the youngest Pekao clients, who will teach them the basic concepts and show how to effectively save and manage their money.
Parents with full control of the child's finances
An integral part of the PeoPay KIDS system is the parent panel - available from the PeoPay application and the Pekao24 website . It allows you to view funds on your child's account, as well as for a quick pocket transfer. From this level, the parent can also manage the functions of the payment card and change the settings in the PeoPay KIDS mobile application. The daughter or son may also ask for an external transfer, and the parent will decide whether to approve, reject or change its parameters.
The parent will be able to immediately block the child's application or payment card if necessary. Adults have another option at PeoPay KIDS. It's about setting a daily spending limit: a minimum of 20 and a maximum of 50 PLN. Parents can activate the PeoPay KIDS package without leaving their home - via PeoPay or the Pekao24 system. To complete the application, all you need to do is know your PESEL number and the child's basic details, and you do not need to provide the child's identity document.
For Pekao, the youngest customers' market is very attractive
According to Leszek Skiba, acting president of Bank Pekao SA, financial education is a very important element in preparing a child for adulthood.
Good habits gained in youth - such as skilful management of your money - translate into how we manage in adult life - he argues.
Opening up to the latest solutions for the youngest customers of Pekao brings measurable results. In the first quarter of 2020, sales of personal accounts amounted to 125,000. and was higher by 11.5% y / y Importantly: 22 percent of these purchased accounts were initialized digitally. And as much as 42 percent. newly acquired Pekao customers are under 26 years old. The possibility of opening an account in Pekao with the power of selfie seems to be a hit. The increase in the first three months of 2020 compared to the period from October to December 2019 was as much as 140 percent.
A thorough analysis was carried out before the works and launch of the PeoPay KIDS system. Black and white it turned out that increasingly younger children reach for smartphones. In the group of children aged 3 to 6, 63% do so. of them; for children from 7 to 10 years old, it is 71%, and for children between 11 and 16 years old - 84%
We have noticed that there are no banking solutions in Poland for school children. In response to the needs of parents and the children themselves, we have created PeoPay KIDS - the most extensive banking application on the market, and at the same time easy to use - says Marek Tomczuk, Vice President of Bank Pekao SA, supervising the Retail Banking Division.
The material was created in cooperation with Bank Pekao SA
Bank Pekao has introduced a mobile application for children. Welcome to PeoPay KIDS
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