About
The children can make small payments without cash-fast and easy with the new convenient and funny non-contact payment accessories from Fibank.
Innovation presentation
Fibank was the first bank in Bulgaria offering an attractive solution for payment for children and teenagers at a POS terminal-micro tag card with accessory (silicon bracelet or keychain). To stimulate the financial education Fibank starts in the same time an one-year cash back program. The Debit card for children and teenagers is free from any fee /issuing and maintenance, payments made in outlets or for withdrawing money from a Fibank ATM, no card fee reissuance after expiry/ until the child reaches the age of majority.
The main goal is-financial education in early years.
Reasons behind-increasing the clients base up to 18 years.
Sources of inspiration-in the survey by Kantar TNS, 70% of the parents declared their intention to claim the product.
Departments involved: Marketing and Advertising, Card payments, Methodology, Jurists, IT
Uniqueness of the project
Fibank was the only bank at the moment offering Debit cards for children and teenagers with micro-tag card. The children can choose the accessory from 4 fresh different colors bracelets and 1 unique keychain. During the campaign the kit /micro-tag card and accessory/ are priceless. After the campaign the price is 10 BGN /5 EUR/.
The client base of Fibank:
- 92% share, that the family is the most important for them
- 83% believe that the product will develop the financial culture
- 60% like to buy new devices and technologies
- technologically oriented
- innovate oriented
