Seqr has officially launched Seqr Go!, a prepaid mobile payment app designed for teenagers. It’s now available in the Google Play store.
According to Finextra, the first-of-its-kind app is a safe and secure alternative for teens to make purchases and send money to one another. The app is also designed to teach the younger generation about money management and financial responsibility.
“Seqr Go! represents a major leap forward for Seqr and the mobile payment market in general. For the first time, someone (Seqr) has provided a safe, smart and youth-friendly mobile payment technology. The youth segment is a large group of consumers that has effectively been shut out of this market and capabilities until now,” says Peter Fredell, CEO of Seamless. “It replaces the need for a wallet or to carry pockets full of cash, making it safer for teens when out and about. It also enables teenagers to send money to or receive money in real time from other Seqr users whether home or abroad, anywhere in the world, free of charge.”
All that is needed to set up an account is a name, date of birth, email address and telephone number. There is no need to link a bank account since the app is prepaid. Money can be transferred instantly to a Seqr Go! account via person-to-person transfer by another Seqr user, and since teens can only spend what they have, there is no risk of the account being overdrawn.
Teens can also make contactless purchases where they are accepted, and an activity log gathers all purchases and receipts for any in-app payments, so Seqr Go! users (and their parents) can keep track of their spending in real time.