As part of measures to bridge the gap in financial literacy among Nigerians, especially among the children, Parkway Nigeria has introduced a digital wallet for children called ‘Little’.
Parkway observes that financial literacy is a combination of awareness, knowledge, skill, attitude and behaviour necessary to make financial decisions and ultimately achieve individual financial independence.
As such, Parkway, a technology company, has introduced Little, a digital wallet that is out to help parents and their children. It will be formally launched in Lagos next Tuesday.
According to the Chief Operating Officer of the company, Angela Essien, Little is “bridging the gap between financial education and financial independence.”
She said Little is a solution that allows parents to seamlessly give their children pocket money. “It comes with a debit card for children. Little is essentially a pocket money card. It comes with a personalised debit card with a security pin, for children aged nine and above to use and a mobile app for the parents to send money, monitor and set boundaries,” she explained.
According to her, parents with children could deposit money into the wallet and their kids would have access to it for needs within and/or outside school premises.
She added that with Little, kids could make tuition payments, buy food and snacks and withdraw cash.
“The Little app allows parents to limit the places where the card can be used and block inappropriate transactions, and also provides convenience for parents with children in boarding schools as they no longer need to travel long distances to provide money for their children. Parents can also stay up-to-date on how much their children are spending as transaction reports are sent directly to them,” she added.