Nearly one in three parents presently pay pocket money online, straight into kids’ bank accounts. Among those with children over the age of 14, it is a half. 

With today’s under 14s receiving annual allowance money of £241.28, or £4.64 a week, and indeed four-year-olds getting an average of £2.38 a week. Parents are choosing digital avenues since it provides comfort, security, and educates children to budget, the survey found.

There is no reason to fear cashless installments or to attempt to shield children from them. Rather, we ought to make sure children are introduced to digital money early, with practical hands-on lessons to empower responsible behavior. PaymentZ Mobile App will attract even very young clients with its colors and interface. Moreover, the application will be easy to use even for kids, it was created in a simple and appealing way.

After all, you wouldn’t educate your child how to utilize a typewriter rather than a computer, so why do the same with cash? At its core, digital banking empowers children. So why not start educating our kids about finance through using the PaymentZ application now?