Europe Paytech

Swedish Fintech Startup P.F.C. Launches a Children’s Spending Card

The fast-growing fintech app is introducing a new money management feature aimed at children and youngsters under the age of 18 and their parents.

P.F.C. Family is a subscription-based feature that allows parents and guardians to more easily keep track of their children’s spending. All while the children themselves learn how to use and manage their own money.

– We are pleased to now offer this simple, yet modern, solution that has long been demanded by our customers. No need to go to the bank office – it’s all managed from the app, says Jacob Palicki, Head of Product at P.F.C.

After ordering a P.F.C. Mastercard® for their child, the parent or guardian uses the P.F.C. app to transfer money instantly and then gets notifications whenever the child spends, with information on where and how much. In case of theft (or carelessness), the card can be frozen and unfrozen at any time immediately from within the app.

– A secure and easy way for parents and guardians to give their children room to grow and take on new responsibilities, but without risking unpleasant surprises, says Jacob Palicki.

Since launching in late 2018, P.F.C. has established itself as a real alternative to traditional banks. The company was named Challenger of the Year 2019 by Swedish business magazine Privata Affärer.

– We put our customers first and develop new solutions based on their needs and wishes. It’s our customers lives we aim to simplify; their dreams we want to help them achieve. We currently have about 100,000 – increasingly active – users, something we interpret as an indication that our services are being appreciated, says Jacob Palicki.

And P.F.C. continues to gain ground rapidly as the number of users grow.

– P.F.C. is for everyone, since we all need to deal with money and we all are affected by the financial choices we make – or don’t make, each and every day. Our ambition is to simplify what’s complex, and help people turn challenges into opportunities, says Jacob Palicki.

P.F.C. is a personal financial app that provides people with tools to help them get smart about managing their money. PFC Technology AB is a licensed payment institution authorized by the Swedish Financial Supervisory Authority (SFSA, Finansinspektionen).

Author

  • Editorial Director of the The Fintech Times

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