Jassby, Inc., the fintech company that created one of the industry’s top family finance apps, today announced an exclusive agreement with Mastercard to power its new Virtual Debit Card for kids. Accelerated by the Covid-19 pandemic, the release of a virtual debit card has been a priority for Jassby as parents are concerned about their kids handling cash, according to recent survey results.
The Jassby Virtual Debit Card, powered by Mastercard, provides kids with more options to spend money from chores, allowances, rewards, or gifts. Along with the Jassby Shop, which offers over 20,000 products, kids can make purchases anywhere contactless payments are accepted through their mobile devices. The Virtual Debit Card will be offered with no fee for the first six months and will continue with no fee as long as it’s used once a month. Powered by Mastercard, all virtual debit card accounts are secured by Sutton Bank, of Attica, OH.
“The Virtual Debit Card is another example of putting our customers first and delivering a product that meets a growing need in the market,” said Benny Nachman, founder and CEO of Jassby. “I started Jassby to prepare my kids for life in the real world and thousands of families have joined us for the same reasons. With continued support, we’re able to empower kids with the hands-on financial experience necessary for today’s new normal.”
“Kids today are digitally native, seeking out solutions that cater to their preferences and the reality of their interconnected lives,” said Sherri Haymond, executive vice president, Digital Partnerships at Mastercard. “Jassby’s mission to arm their customers with financial tools, such as contactless payments, to prepare them for the future is aligned with our goal of making the digital economy work for everyone, everywhere.”
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