SQUAREONE - NEW ZEALAND's FIRST MONEY APP FOR KIDS

AUCKLAND,New Zealand,Jan. 5,2022 -- SquareOneis 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.

SquareOnehas 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