The new way for kids to pay, save and track spending

 

This post is a collaboration with ZAAP

Have you heard about ZAAP? It’s Australia’s first low-cost prepaid MasterCard for kids that’s fully customisable and wearable. Yes, wearable! ZAAP is a handy pocket money tool and financial tool all rolled into one. With ZAAP, parents can teach their kids the importance of managing and saving money without needing to give them cash.

When the team at ZAAP reached out to me and explained their product, I was super excited to work with them on this campaign. I knew it was something that my family would use every day and benefit from. And I can’t wait to share it with you!

Why do I love ZAAP?

With four girls ranging from ages 6 to 15, it can be a little tricky for me to track giving my children cash. I feel like I’m always handing it out, especially to the older girls who are regularly going out on weekends with friends. But with ZAAP, I can load funds into the parent app and quickly send funds to each of my kids’ accounts. Using the app, I can then track their spending, something I can’t do when I give them cash.

Not only is it super convenient for me as a parent, but it’s also a fantastic way for my kids to learn the value of money and how to manage it. I love that ZAAP teaches them this in a cashless way, exactly how I manage my own money! I think it’s essential for the kids to learn good “cashless money habits”, as we as a society become more cashless every day. My kids can earn pocket money, create savings goals and track their progress all within the app.

ZAAP can also be used overseas, which is perfect for our family because we travel regularly. I can allocate a spending amount for each holiday and allow the kids the freedom to use their own cards for purchases and manage their own money, just like at home.

Why do my kids love ZAAP?

For the younger girls (6 and 8 years old)

•    They can’t get enough of the wearable wristband
•    The opportunity to manage their own money
•    Learning about money, how to manage it and how to save
•    Earning money is fun! They love watching their account grow via the app

For the older girls (14 and 15 years old)

•    They can control their own money and have their own card
•    Ease of use of the ZAAP app
•    Tracking savings and spending via the app
•    The fun of creating their own custom card
•    The security of knowing I can instantly transfer funds from the parent wallet in an emergency.

Why YOU should choose ZAAP?

•    It’s much safer than cash
•    Kids can’t get into debt: They can only spend what is on the card
•    Kids can design their own card by uploading an image or choose from over 50 fun designs
•    In the parent app, parents can manage ZAPP accounts for multiple children within the family, transfer funds, to other linked ZAPP accounts, check their balance and monitor their child’s spending
•    ZAPP has an easy-to-use app with a separate login for kids
•    The kids’ app lets tweens and teens check their ZAAP balance and transaction history, as well as set and track savings goals
•    The option to spend at 37 million outlets worldwide. Online and ‘Tap and Go’

Things you should know

•   ZAAP has a wearable device option for added convenience. The ZAAP Band also comes with a ‘Keeper’ which can be attached to a watch or fitness band for convenience
•   ZAAP has a 3-year validity with automatic renewal
•   No annual fees. Low $2 per month fee – the lowest cost MasterCard card product
•   The parent wallet limit is $999

How much will ZAAP cost?

•    You can get a card from only $9.95
•    Or upgrade to a personalised ‘selfie’ card for $20
•    Keep it on your wrist with a wearable band for $20
•    Or buy as a bundle: with the generic card + wearable for $29.95
•    Upgrade to the selfie bundle: ‘selfie’ card + wearable for $40
•    ZAAP has a 1.5% fee which is charged on the parent load, which is the amount parent’s load onto their parent wallet (not transfers to the child’s account). However, ZAAP allows parents to load via debit and credit card, rather than a bank account and ensures an almost instant (<45 mins) transfer to their parent wallet. These two benefits are highly valued by parents.

If you have any questions about ZAAP, please let me know and I will do my best to answer them for you.

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