Micro tag cards and cash back program for Debit cards for children and teenagers Qorus Banking Innovation Awards 2018 - Winner

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