Every month the same scene plays out at kitchen tables across America—parents receiving their bank statement or credit card bill are suddenly struck by blind dread and horror as they realize that their children have somehow spent most of their monthly salary buying in-app upgrades and God-only know what else online.
Virtual piggy bank app, appropriately named Oink, wants to help parents get their kids’ spending under control. It’s purpose is to allow parents to allocate funds that can only be spent in cerrtain amounts, at certain times and with certain retailers.
And major players, including the GAP, Banana Republic and Walmart –the app is gaining traction, particularly among working parents looking for transparency in their kids’ spending.
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