PktMny – Prepaid cards for kids
A new scheme has been put out that allows children as young as eight to be able to make payments in shops or online with the use of a pre-paid debit card. These cards have been available to children aged 11 or older for a while now, but the providers of the scheme PKTMNY has debated to say that young kids can learn from these cards as cash transactions become rarer.
The way these cards work is that the parents can control the usage of the card by their child using a website. A spokesman from the business said this includes such features as turning the ability of the child to make online payments and cash withdrawals. The cards are developed so that they can restrict the purchase of age limited goods and services such as alcohol, tobacco, adult rated video games and gambling sites. They also stop usage in pubs and clubs. Registration of the card is £5 and then £1 a month. Every time the child makes cash withdrawal they will be charged 50p.