Net1 UEPS Technologies' UK subsidiary Zazoo will provide Funifi with a secure payment mechanism for its chore app using its Mobile Virtual Card (MVC) technology.
Funifi, a start-up based in the UK and Cyprus, created its Funifi DO app to encourage children to work hard and be rewarded for their efforts, and be involved in family chores.
The app also introduces children to financial literacy, teaching them about the importance of saving and planning their spending.
"Adding VCPay to Funifi expands the way in which parents can reward their children for completing tasks or achieving goals," says Philip Belamant, MD of Zazoo.
Zazoo's VCPay is developed around Net1's MVC technology. It provides a secure alternative to conventional credit cards by using existing international payment structures, allowing it to be used anywhere in the world.
"Parents can set goals for their children and then create fixed-amount virtual payment cards when they can see through the app that all tasks have been done. Once the card is created, parents can offer top-up incentives through the Funifi DO app to motivate their children to complete household tasks on a regular basis," he says.
Andrew Michael, CEO of Funifi, says: "Children love earning rewards in their favourite digital or online games, and Funifi makes their chores just as much fun by letting them log their tasks at home via a mobile phone or tablet.
"In return, they receive and collect points much like they would in their digital games. The advantage of partnering with VCPay is that parents can now control their children's spend at specific merchants," adds Michael.
Zazoo's partnership with Funifi follows similar deals with Uber and Microsoft, which have also added a secure alternative to plastic payment cards.
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