Digital wallet BPay rolls out virtual card offering for youth
By Delisha Fernandes
BPay, Bahrain-based digital wallet app, has released its supplementary virtual card offering for youth. The BPay Youth Card gives children the chance to manage their finances, save money and make their own spending decisions with comprehensive safeguards for both the BPay parent or account holder and youth user.
The Youth Card gives the parent or account holder full access, control, and management to add funds, freeze, block or issue a new card with the added security of real time spends notifications. In parallel, youth users have access to only specific BPay features, and cannot add funds, send money internationally or top up international mobile accounts.
Samer Soliman, CEO of Arab Financial Services BPay said, “The most effective financial literacy starts at a young age, and at AFS we are pleased to play a key role in developing the digital payments tools that engage youth while also imparting financial knowledge and financial management skills that will serve them well in future. Our product does this while also safeguarding its young users and giving parents and guardians complete oversight and security.”
Users can use the multilingual BPay app to purchase goods or services, to send and receive money peer-to-peer (sending money by CPR, telephone number of My QR code), store money for when they need it, store credentials for various payment instruments securely and digitally, remit money (send money internationally), pay bills (including school fees), support charities, and more.
The digital wallet app is directly integrated into AFS Point of Sale (PoS) terminals using APIs for merchants and corporations – for efficient, convenient use. For consumers, BPay is accessed by smartphone users through a digital app available from any app play store (Google or iOS).
IBSi Daily News Analysis
December 08, 2023
Most consumers seek safer, easier payment verification, research revealsRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage