Osper is a start-up, is located in the UK it puts forward to create a innovative banking services can be used by children, the service will be prepaid debit CARDS and smart phone applications, they can be controlled by children and parents together. This approach could potentially enter an ignored by most of the Banks out of the market, at the same time, the market would be eager to early parents education children learn how to manage money.
the company also claimed that obtained from ever investment SoundCloud and Etsy London venture investment $10 million (6 million pounds). Osper has earlier in June last year as alumni of accelerator, investment 800000 pounds seeds. The cash will be founder Alick Varma used to start beta series of products, launched in the UK and eventually extended to all over the world. A television celebrity important Davina Mccall joined to support this activity.
other investors including harbour vc (li ka-shing company), Peter Jackson (travelex CEO) and Darren Shapland (sainsbury’s bank, former President of); There are also such as bought Streetcar, Lastminute.com, Jawbone, SoundCloud, cloaked and Funding Circle.
focus on British 7 million 8 to 18 minors (the market of 43 million people in the United States), Ospers is a branch of mobile banking services. Its prepaid debit card is mastercard credit card approval and support, only need a simple mobile applications (Android or iOS), can make the young people and parents separate login. This account no credit or overdraft function so children can spend some money in their account. Osper card first year free, next year will charge an annual fee of 10 pounds. This unique orange card can be used in shops, on the ATM withdrawals, such as amazon and iTunes on online shopping and subscription services.
because they can see how money is being spent, parents can give children more decision-making power, then children can gradually learn to financial management. This means that parents no longer need to hand cash or lend credit card online.
as founder Alick Varma, the key is because the study found that teenagers have a bank account, will use the bank on the net, rather than rely on parents’ cash and credit card accounts for less than 30%. Although in Britain three-quarters of teenagers have their own bank account.
in other words, they need a new service to encourage them to actually use the Internet banking services (of course, if they are not prepared to use COINS).
“it is necessary to reshape the image of the bank for young people, they should have the means to establish a young financial confidence.” Entrepreneurs Varma said. She used to be a math teacher, but later as m-pesa mobile payment platform (Kenya), and accurate work.
debit and APP has several features that might attract parents are interested in the idea, for example, it can remote monitoring and management Osper card, instant loading cash transaction refused to prompt message, if the card is stolen can lock the account.
the company plans to “swap” produced by transaction completes the deposit interest and annual subscription fee income to make money.
Osper is expected to be a bumper harvest in the UK, although there may be a bigger the existing bank competitive products. Bank of America’s “simple” – advocate for simple virtue – perhaps looked at this emerging industry is full of interest.