Teaching Kiwi kids that money doesn't grow on trees 

SquareOne is a ground-breaking new FREE app that replicates an everyday account 
and allows Kiwi kids to spend and save money – with parental supervision. This 
purpose-built mobile app, with accompanying card, is a first in New Zealand and 
local founders Jovan Pavlicevic and Jamie Jermain have signed a seven-year 
partnership with Mastercard to bring it to life. 

The idea for SquareOne came about when Pavlicevic and Jermain (two Kiwi mates 
with finance backgrounds) wanted an easy and effective way to teach money 
confidence to their own kids. "Traditional banking focusses on adults and we 
want Kiwi kids to have the best chance of financial success and the key to that 
is to start young," says co-founder Jamie Jermain.

"A staggering one third of ALL working-age Kiwis have less than $1,000 saved 
and 51% of students report little or no financial education at school. We 
created SquareOne to fill the gaping hole in our financial education and 
provide financial wellbeing for our next generation."

Jovan Pavlicevic, SquareOne.

Studies* in New Zealand report finding that young people have low financial 
literacy, take part in little formal financial capability training and gain 
more out of education when it is directly relevant to their life and parental 
modelling. While introducing kids to spending, SquareOne actively promotes the 
idea of saving within the app. Whether it's putting money away for a new bike, 
an X-box or something smaller, kids can easily set up savings goals either 
through the app or with the help of their parents.

SquareOne has stringent safeguards in place in case of loss or theft including, 
no names and numbers on cards and parental access to temporarily lock and 
unlock their child's card in app at any time. It also offers real-time spending 
notifications and blocks over-18 merchants including alcohol outlets and 
gambling services. 

While SquareOne is a first for New Zealand, similar apps are proving extremely 
popular overseas. gohenry launched in the UK in 2012 and currently boasts 1.5 
million customers. In 2019 Australia launched Spriggy and currently has 400,000 
users.

SquareOne is available now via the Apple App Store or Google Play Store

Source SquareOne