In Partnership With Visa, Mozper Launches a Card for Children and Teens With a Focus on Financial Education
Mozper, the startup that helps parents in Latin America educate their children to make smart and responsible financial decisions, launches in Brazil, together with Visa.
Mozper uses Visa’s contactless payment technology for their cards which work together with the Mozper app. Mozper is 100% family-oriented, offering parents a full range of control over spending while advancing their childrens’ financial education. For guaranteed security, adults can lock and unlock the card at any time and keep track of spending in real time.
The innovative Mozper platform – available as an app – is secure, intuitive, and easy to navigate, making it more engaging for children to use. It also has a feature to allocate money into spend categories, effectively creating a budget which can be used based on the indications set by the parents. This allows limiting spend on categories such as food, entertainment (ie, video games), clothes, toys, and cash withdrawals.
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In addition to the control module and spending category management, the app has a built-in savings account feature, where users can save into general savings or set a goal toward an amount needed for a specific purchase (i.e., Airpods). This instills good savings habits in children from a young age, a critical component for a healthy financial future. The card also has an innate debt shield, where a child can never spend in a category where they do not have assigned balance, nor can they use their savings balance for purchases without a parent’s approval.
The platform also allows parents or guardians to assign chores, such as washing dishes, tidying closets or cleaning bedrooms and reward them by releasing balance bonuses upon completion. The opposite also applies, parents can deduct money.
Finally, with Mozper cards, children cannot spend on any adult-only online purchases, such as online gambling or adult sites. All these transactions will be automatically declined. Mozper is truly the only age-appropriate card for children and teens in the Latin American market.
“It’s a real opportunity for parents and children to talk about money, to understand surprise-free purchasing, and to learn financial responsibility within an engaging and secure framework. It is an opportunity to teach financial intelligence and how to plan a more stable financial future with healthy financial habits,” says Gabriel Roizner, CEO of MOZPER.
“We share with Mozper the opinion that with better organization and planning of their finances, everyone can achieve their dreams in a responsible way. At Visa, we believe that more conscientious consumers make better financial decisions that impact the lives of their entire community. This is a generation that was born digital, so it’s important they have access to an innovative solution like this to awaken an interest in financial education”, says Eduardo Abreu, vice president of new business at Visa in Brazil.
The Mozper platform costs R$25 per month for a family, including up to four kids and two guardians. For those who choose an annual plan, the fee is R$19 per month per family. There is no charge for transactions made with the card or transfers between Mozper accounts. Mozper is committed to providing full transparency and no hidden costs.
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