Retail warms to kids' payment card account

PktMny surprised by toy industry?s "very positive reaction" to new savings account as the calls flood in.
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The first parentally-controlled savings account and payment card for children has caught the eye of toy retail.

PktMny, the company behind the service, has been inundated with calls from keen toy retailers and suppliers after ToyNews reported the original PktMny story online last month.

It works by linking a pre-paid Visa debit card to a PktMny children’s account, which children can add savings to, and parents can set limits in terms of how much, how often and where money can be spent – whether it’s online or on the High Street.

ToyNews understands PktMny is in discussions with several toy retailers and mobile networks who have expressed interest in being a part of the service.

“I have been very surprised by the very positive reaction that retailers have given PktMny, it seems we have tapped into something very exciting,” PktMny’s development director Michael Hobby told ToyNews.

“Retailers have to be aware that children as young as eight are now shopping online using adult debit and credit cards. Retailers need to ensure the right products are purchased in a safe correct way. PktMny resolves this headache for retailers.

“PktMny ensures that children can purchase online within parental limits. It’s simple, safe and reassuring in an online word where cash is increasingly irrelevant and intangible to our children.”

He added: “Paper print outs and paper account books are no longer relevant to this new digital generation for banking and savings accounts.

“PktMny offers the first modern spending system for families that wish to teach their children the value of money so that the next generation grow up feeling empowered, responsible and educated about money and how to spend it wisely.”

PktMny has also enjoyed coverage on BBC Radio Solent, in The Telegraph, as well as the Yahoo and This Is Money websites.

PktMny: 01590 673024

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