DALLAS--(BUSINESS WIRE)--PAYjr, an online service that provides powerful financial tools to help young people understand and appreciate the concept of financial responsibility, launched the industry’s first prepaid card for teens, allowing them to upload pictures for the design of their card.
The PAYjr Visa Buxx Card is issued by BankFirst, Sioux Falls, SD, pursuant to a license from Visa U.S.A. Inc. The program is available to parents and teenagers via PAYjr’s website www.PAYjrvisabuxx.com and through PAYjr’s growing number of bank and credit union partners.
The new PAYjr Visa Buxx Card provides parents with a valuable tool aimed at teaching teens, ages 13 and older, how to manage money and provide hands-on experience using a card for payments. Different than a typical prepaid card or debit card, the PAYjr Visa Buxx Card gives parents complete control and visibility into all the spending activity. It provides teens with a level of independence while still giving parents supervision. In addition, the program does not charge NSF fees and will decline transactions if beyond the available prepaid balance.
“Forcing teenagers to learn how to manage money using cash is the equivalent of teaching teenagers to conduct research with a card catalogue at a library.” said David S Jones, the CEO of PAYjr, “My kids are unlikely to ever write a check or even use cash; we are moving to a cashless society and I believe it is very important to teach young adults how to use these tools while still under parental supervision. Our program does not advocate credit card debt, our program advocates education.”
Breaking new ground in the financial services industry, PAYjr leverages technology from Serverside Graphics, a London based company, to enable teens to upload, enlarge, rotate, move and flip their chosen photos inside the PAYjr Visa Buxx Card template, so teens can get just the card they want. PAYjr has also launched a card design competition, encouraging teenagers to show off their design skills in competition for a chance to win an Apple® Macbook® and the opportunity to earn royalties from their card designs. Teens can enter the contest at www.PAYjrVisaBuxx.com/Competition.
Headquartered in Dallas, Texas, PAYjr provides smart, practical and easy-to-use online tools that help parents teach their children about money management and budgeting. The company’s central focus is helping kids make the connection between financial reward and effort, hard work and discipline, which ultimately establishes a lifetime of smart financial habits. PAYjr also works closely with banks, credit unions and major youth brands to help create market differentiation with branded and co-branded PAYjr programs. For more information, visit www.PAYjrCorp.com, www.PAYjr.com, or www.PAYjrVisaBuxx.com
Located in Sioux Falls, SD, BankFirst is a leader in the network branded prepaid card industry. The Stored Value Solutions division develops innovative solutions to meet the rapidly changing needs of the prepaid industry. The experienced BankFirst team offers great flexibility in creating programs that are shaping the prepaid market. www.bankfirstsvs.com BankFirst; Member FDIC.