Imagen | Osper
One of the positive effects of the economic crisis is that many schools around the world have begun to offer basic lessons about finance and home economics for their students. They are simple lessons designed to teach what taxes are and how the money raised from taxes is spent. Now, parents can take a further step with Osper a card that teaches children about managing their money.
Osper s a prepaid debit card specially designed for children and teenagers between the ages of 8 and 18 years. The idea is that they make their own decisions about their money helped, of course, by their progenitors, who should instill in them the importance of good money management. “We need to reinvent the idea of banking for children. They should have the tools to build confidence in themselves to be able to manage their money from a young age”, says the founder of Osper, Alick Varma.
The card, made by MasterCard, is complemented by an application, available for iOS and Android. In the app you can establish spending limits and deactivate the card if it is lost or stolen. Also, the parents have constant access to the account and can keep an eye on what their children are doing with their money.
At the moment, Osper s only available for British citizens and it is necessary to have a British bank card in order to transfer the money. It is free for the first year and thereafter costs ten pounds.
In June of 2014 the company closed a round of financing for 6 million euros (8.37 million euros), according to an article in TechCrunch. Added to the 800,000 pounds (1.11 million euros) they had raised in 2013, the company was planning to make themselves known throughout the United Kingdom, abandon the beta version of their product and, in time, go international.
Moving toward a world of ‘digital money’
Osper is developing in a world that is opting more and more for the use of electronic money. With economists asking for the elimination of traditional money, Denmark announced a few days ago that it was preparing to eradicate it. From January of 2016, businesses, clothes shops, petrol stations and restaurants will be able to only accept electronic payments.
Denmark has a long-established history of paying by card, so for the Danes the change won’t be a big inconvenience. In fact, many Danes want the system in place already, with its advocates highlighting the fact that it will be a good way of combating tax evasion and corruption.
The drift toward a world of ‘digital money’ seems clear, and startups such as Osper and many others are taking small steps in this direction. We must also take into account the educational factor of these types of initiatives, as they help children understand the world of finances and the value of money management.