Cashless payments options are on the rise in today’s modern society. Gone are the days when people had to endure long queues at the ATM for fund withdrawals; these days, almost everything can be purchased with the tap of a card.
In fact, the latest Visa Consumer Payment Attitudes survey found that cashless payments adoption rates in Singapore are at some 98 percent, with contactless cards being the most preferred payment method (31 percent) – rising above physical cash (15 percent) and other options.
To help you keep up with the times, mobile payments firm Canvas has created a convenient card-and-app combination that can help consolidate the finances for the entire family – from children, teenagers, and domestic helpers, too.
Using the Canvas Prepaid Visa card is simple: parents can sign up for an account, and add their children or helper as cardholders. Once activated, top up the family balance (can be done easily within the app via PayNow, credit card, or bank transfer) and transfer the required amount into each card. Start using it in place of actual cash, with no more last-minute trips to the bank. The mobile application even gives you real-time tracking of all expenditures, with the ability to add more funds, lock, and cancel cards with a tap of a button.
The card can be used on public transport, tapped in-stores, and even online. It is a great tool to help kickstart the financial literacy journey of the young ones, and a convenient way to manage household spending for those with a helper in the family.
To help you get started, Canvas also has a 30-day free trial and $10 credit on all kids’ cards.