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Top 9 Benefits of an e-wallet account for Children in South Africa

parents and a child holding a smartphone.
Benefits of an e-wallet account for children in South Africa

We live in a world where technology is at the forefront, and our children are technophiles. Children now practically know how to operate a smartphone from as young as 3 years old. However, studies show that the appropriate age for children to own a smartphone is between the age of 10/14 years old.

Smart devices are good for children, and they can benefit from technology, which offers tools that encourage learning through play, let them express their creativity, and keep them socially connected. Tech-savvy children will also be better equipped for the workforce which will be largely digital in the future.

E-wallets play a very vital role in bringing your finances and personal life together. E-wallets are a great way to send money to your children and can also make it easier for you to make sure that your loved ones are well taken for.

Benefits of an e-wallet in South Africa

beautiful African girl at an atm
Cash withdrawal with the Glow

Digital wallets free up space in your physical wallet and condense your debit and credit cards into one app. Just tapping your smartphone to complete a purchase and online shopping with a digital wallet has never been easier. We are in an era of convenience, and anything that saves us time is a big bonus. Here are a few benefits of having an e-wallet:

  • Send and Receive Money in Seconds

  • Easily Split the Bill

  • Send International Money Transfers

  • Track Expenses and See Where Your Money is Going

  • Get Better Fraud Protection

  • Convenience

  • More Secure

  • Allows you to be More Organized

  • Use Contactless Payment for a Faster Checkout

E-wallets are a safe, simple, and smart way of managing your children's finances.

Mastercard on phone
Chat and Pay

E-wallets like allow you to manage your money in a smart, simple, and convenient way. Money management is a great life skill to introduce to your children at a young age. Glow helps shows children what money looks like and helps them understand their needs, wants, and budgets with an e-wallet.

The habit of saving money may be an important life skill, but it's not always easy. In fact, a Lending Club found that up to 64% of South African adults live paycheck-to-paycheck with little or no money set aside for future needs.

Financial literacy is a skill that doesn't come naturally. It is a skill that needs to be developed and polished. Managing your children's finances with an e-wallet is an easy way to introduce financial literacy and good spending habits.

Other Benefits of an E-wallet for Children?

mother, son, piggie bank
Saving tips for children with the Glow

Glow is a modern way to strike the right balance between control and independence for children.

  • Track your spending

  • Monitor savings goals

  • Transfer money

Available to both kids and adults, the Glow app makes it easy to easily send the money they want to pass on to their children to the wallet. Once the money is sent, kids can use it like a regular debit card or mobile wallet.

Here's what children can achieve.

By showing young children how e-wallets can extend the functionality of their homes, add value to product purchases, and become a better measure of spending. This shapes their independence and financial viability. Find an e-wallet to help your child learn about finance.

Inculcate good money habits

An e-wallet can help you send money with the tip of your fingers. E-wallet helps you incubate good money habits such as allowing you to track your spending. This allows a good Budget.

Effective money management starts with a budget. Making a budget gives you a stronger understanding of how much cash you've got, how much cash you've used, and where that cash is going. An e-wallet helps you set financial goals. By setting relevant financial goals, you can keep your spending habits on track to reach your goals. Knowing your goals will help you avoid impulse purchases and stick to your budget. Here is a list of good spending habits one should adopt.

Types Of Digital Wallets in South Africa and Which Banks Support Them

Here are the major digital e-wallets in South Africa:

  • Absa, Discovery Bank, Nedbank

  • Absa, Discovery Bank, FNB, Investec, Nedbank, RMB, Private Bank

  • Absa, Discovery Bank, FNB, Investec, Nedbank, RMB, Private Bank, Standard Bank

  • Absa, Discovery Bank, FNB, Investec, Nedbank, Standard Bank, RMB, Private Bank,

What makes Chat and Pay special?

Glow app logo
Chat and Pay powered by Glow

Have you always wanted a solution to how to quickly and efficiently send money? Without having to pay major bank charges. Well, the solution is here. Chat and Pay is special because of its future-forward features. This increases the inclusivity of this solution. Simplify your business transactions with Chat and Pay solution by Glow. Generate invoices and get paid seamlessly right on WhatsApp. Not only do you send money to the recipient, Chat and Pay allows you to save money and time. There are no hidden costs, the invoices are transparent. The key feature is that the Chat and Pay allows you to send money with peace of mind.

Glow makes money management fun for kids.

children, win, success
Fun Ways to Financial Success for Kids with the Glow

Do you remember the first time you were given a huge sum of money from your parents to buy something important or to keep? Back then it was easy to keep your money in a shoe box or under a pillow. Fortunately, in 2023 everything is digital, and having a card is the safest way to store and send money This easy principle shouldn't be different for your children as well.

With the Glow app, children can also micro-manage their spending. Glow Allows them to be financially advanced. The best part is that children who cannot yet read and understand English can still get the best out of the Glow e-wallet. Inclusivity and representation in South Africa are the ultimate gifts we could give to young Southies.

What languages does an e-wallet support?

to learn, school, language lessons

South Africa is a diverse country, with twelve official languages. Though most banking apps and e-wallets are in English our goal is to satisfy the needs of all South Africans particularly when it comes to financial inclusion.

We are committed to bridging this gap by providing a human-oriented mobile application that makes it easy for people in Africa to send, receive, and save money.

We want to empower individuals to take control of their finances and participate fully in the digital economy.

We believe that everyone should have access to the benefits of digital financial services, regardless of their location or background. Glow App is user-friendly, reliable, and secure, with features that cater specifically to the needs of people in South Africa.

The Glow app is the first of its kind, supporting the Zulu language.

Yingakho uhlelo lokusebenza lwe-Glow likumbozile. Zulu is a Bantu language spoken by more than 9 million people, primarily in South Africa, especially in the Zululand region of KwaZulu Natal. The Zulu tribe is a member of the southeastern or Nguni subgroup of the Bantu language group.

How ChatNpay works

coins, banknotes, money
How To Send Money with Glow

-Just send "Hi" message to a designated number on WhatsApp (to be provided soon)

-Open account by texting your company name, upload your logo, link bank account

-Just tell on chat who is your client, what are you selling and for how much

-Your invoice will be automatically generated, you can always edit it

-Send the invoice to your customer straight on WhatsApp

-Your customer can pay through bank or card right away

-Get notified once the invoice is paid

-Money will be transferred straight to your bank account

Outperform your competition. The whole transaction can take less than a couple of minutes. No need anymore to use software to issue invoices, send emails and reminders

Make life easier for your customers as well. They can pay right on chat without the need to go through online banking payment procedures - the solution is seamless

Who are the typical users of e-Wallet?

According to Javelin, smartphones around the world have made purchases through mobile browsers or apps but not in stores, as they respond approximately 10% more positively to smartphone features than the average consumer. Owners of smartphones are considered an ideal target market for e-wallet adoption.

To sum it up, e-wallets play a vital role in making money transfers easier for both parents and children. You are aware of the benefits, and how convenient it is to have these services. The types of digital wallets in South Africa have been highlighted and you have been introduced to the amazing feature the Glow App possesses.

Digital wallets are revolutionizing the customer experience by offering greater security, accessibility, and convenience. We also know that e-wallets are a much safer way to save up money from your card. It is also a reliable and quick way to send out money to your loved ones. You now also see and understand why it is beneficial to have an e-wallet for your children. Join our waitlist today and be notified when Chat and Pay is ready.



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