The British banking startup Revolut has opened its junior account for Apple Pay. The Mastercard debit card issued to children should now be able to be added to the wallet pre-installed on iPhones. You can then make contactless payments with your smartphone in retail stores or at point-of-sale terminals, as well as when shopping online using an app or browser.
In addition to Germany, Revolut is introducing Apple Pay support throughout the European economic area – as well as in its home market of Great Britain. USA and Singapore are to follow.
Revolut Junior is intended for children from 6 to 17 years of age and can be managed and topped up with money via the Revolut app on the parents’ phone. It is not a separate account with its own IBAN. The debit card provided can be used for payments in stores and online.
However, there is a strong interest in digital wallets among teenagers, according to the provider. This wish has now been met with Apple Pay Support – after all, they are heading towards a “cashless society” and want to make children familiar with it too.
According to market researchers, the use of smartphone wallets is largely stagnant, and older users in particular hardly seem to see any advantage in (contactless) payment by physical card.
According to Revolut, it is only possible to set up Apple Pay in Germany from the age of 16, so younger customers of the junior app are left out. The age limit is apparently set by Apple. Apple Pay for teenagers is also supported in the children’s accounts with debit cards at some direct banks, and now also by the savings banks – since their girocard has been integrated into Apple Pay.