Greenlight today announced that its smart MasterCard debit card for kids now supports Apple Pay and can be used in over 120 countries.
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Greenlight is a MasterCard debit card for kids that parents can manage using their smartphones. Parents can top up the card with money instantly, from anywhere, and then specify the exact stores where a child can spend. There's also a Spend Anywhere tab for parents that trust their children's spending habits.
With Apple Pay support, kids no longer have to carry the physical debit card on them, and can simply pay using their iPhone or paired Apple Watch. The card can be set up through the Wallet app on eligible devices.
Every transaction is recorded in the Greenlight app [Direct Link] for iPhone and iPad, and parents receive instant notifications on where and when a child spends, or tries to spend. The card, protected by a PIN number, can be toggled on or off entirely as well, particularly in the event that it's lost or stolen.
For added assurance, Greenlight cards can not be used to withdraw cash at an ATM or get cash back from a purchase. The card also can not be used at any store or website in the categories of wire transfers, money orders, escort services, massage parlors, lotteries, gambling, horse racing, and dog racing.
Greenlight accounts are FDIC insured in the United States through the company's partner Community Federal Savings Bank.
Greenlight costs $4.99 per month, with a free 30-day trial available. Beyond the monthly charge, there are generally no additional fees.
Parents interested in a similar Visa option can look into the recently launched Current smart debit card for kids.
Top Rated Comments
I had no idea this existed. Definitely doing more research/trying this out.
I didn't know either. Ah well, if the kids can't bet on the ponies, what good is it. The bookie prefers cash anyway.Now that being said, we signed on to PNC Bank's (Pittsburgh) digital wallet program. Kid get three "accounts" (spend, save, grow) plus a debit/visa card that can be used for payment or at PNC ATMs. Kid also gets a very useful iPhone app (that works on her hand-me-down iPhone 5S) to track spending and budgeting. And perhaps most importantly, parent gets the same info in his PNC app, so he can track his kid's spending habits, easily transfer money to her, and set certain limits where needed. All at no charge. Bummer, no ApplePay...we'll survive. I've had ApplePay for 6 months and have only been in one store that uses it.
My personal experience (as the dad of two teen girls, lord help me) is that it's not the labor laws standing in the way but rather the over scheduling of everything else in the mix. And believe me I am not passing blame here to anyone but ourselves, but in addition to regular school my 16-year-old goes to after school acting classes. She is in three different youth groups, one of which is a tremendous leadership opportunity culminating in a three week trip overseas this summer. But they all keep her ridiculously busy. So, she's unable to really find any decent amount of time to make money outside of a few babysitting gigs here and there. Oh, and she's a teenage girl, so sometimes just getting her to look up from her phone and do something industrious can be challenging in itself. Again it's our own, first world, 1% problem. But it's common. Very common. When I was a kid I couldn't wait to get out there and start making money. Not today.
My parents pretty much solved the conflict of interest issues between school, sports and jobs for spending cash by simply being clear that my job was to be a good student and responsible with my commitments aka don't skip football practice... So long as I met my academic responsibilities I had spending cash. Summers I was on my own to find a job and scrounge up $$ for the goofy stuff I wanted.Not sure why we want to complicate things that don't need to be complicated. Debit cards, credit cards, Apple Pay for children. WTF? How about take your kids shopping and understand what they are into instead of wonder what that $50 hit on Apple Pay was. More responsibility punting by parents.
So, wait...I get my kid an iPhone 6 or above so it supports Apple Pay. I perhaps get my kid an Apple Watch, to make it even more convenient. Then I pay $5 per month so I can load this card up for spending? I'm not seeing how this teaches my kid the value of a dollar, really.
Guess it depends on your bank and age requirements. Bank of America have free accounts for high school/college age that can be setup with ApplePay and are free. That’s what I went with. I would definitely not pay a fee. Plus I have each set up with Square Cash and can’t-come-soon-enough ApplePay Cash on iOS11. This MasterCard deal with a fee seems to be a money grab at this point for people who want to be spoonfed.Now that being said, we signed on to PNC Bank's (Pittsburgh) digital wallet program. Kid get three "accounts" (spend, save, grow) plus a debit/visa card that can be used for payment or at PNC ATMs. Kid also gets a very useful iPhone app (that works on her hand-me-down iPhone 5S) to track spending and budgeting. And perhaps most importantly, parent gets the same info in his PNC app, so he can track his kid's spending habits, easily transfer money to her, and set certain limits where needed. All at no charge. Bummer, no ApplePay...we'll survive. I've had ApplePay for 6 months and have only been in one store that uses it.
What an insanely awful idea!!! Your a screw up as a parent if you aren't teaching your kids how to spend money with tangible money! As Dave Ramsey says, when you have to hand something over (cash) you FEEL it. It hurts to see all that hard earned money go away. Electronic transactions give you a false sense of security and thus you feel like you have infinite money.
Or, if you have a brain, and financial discipline, you can use credit cards responsibly and enjoy the rewards.I have 2 dollars in my wallet, which is 2 dollars more than I usually have. I use a credit card to pay for everything I possibly can. 800+ FICO score, never paid a dime in interest. Dave Ramsey's advice is for idiots without any self control.