Parents will now be able to monitor pupils spending real-time through a new visa prepaid card tailor made for kids by the Co-operative Bank of Kenya dubbed Co-opPay.
Effectively, this will enhance and make it easy for guardians to track and spending.
This comes against the backdrop of skyrocketing cases by scammers targeting many unsuspecting parents through messages disguising themselves as students asking for pocket money.
Co-opPay is a visa prepaid card that a parent can load pocket money and give it to their child in school.
The pre-paid card is a payment card loaded with money to make purchases anywhere that a debit or credit card is accepted including ATMs, POS, mobile money, online, abroad among others.
The card will allow parents to securely meet their kid’s shopping needs while they’re at school.
“By using this card, your child will be able to pay for goods and services in school. In addition, you will be able to load it up remotely and monitor how money is spent,” says the bank.
Interestingly, one does not need to have a Co-op Bank Account for them to get the card.
It is open to all Kenyans and all parents and the card is not just for buying goods at a school canteen.
In case the child needs some cash, he or she can withdraw at the Co-op Kwa Jirani within the school or outside, or at any Co-op Bank ATM.
The Co-opPay card can be used to pay for goods and services outside the school too such as shopping from a supermarket or to an online platform.
It is accepted wherever Visa cards are accepted.
“Applying for the card is easy. First, you will need to collect an application form at your nearest Co-op Bank branch. Once the form is filled, take it to school along with your ID, KRA PIN, copy of the Student’s ID, and birth certificate. Once the card is ready, it will be delivered to your child in school or you can pick it for them from the nearest Co-op Bank branch,” states the bank.