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
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.
E-wallets like the Glow app 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. The Glow app 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?
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:
Apple Pay
Absa, Discovery Bank, Nedbank
Fitbit Pay
Absa, Discovery Bank, FNB, Investec, Nedbank, RMB, Private Bank
Garmin Pay
Absa, Discovery Bank, FNB, Investec, Nedbank, RMB, Private Bank, Standard Bank
Samsung Pay
Absa, Discovery Bank, FNB, Investec, Nedbank, Standard Bank, RMB, Private Bank,
What makes the Glow app E-wallet special?
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. The Glow e-wallet is special because of its future-forward features and the ability to be a bilingual app. This increases the inclusivity of the app. Not only do you send money to the recipient, but the Glow app allows you to save and receive money too. There are no hidden costs, the app is transparent, and you can make free payments in-app with no bank charges. When you send money with the Glow app you have access to about 5000 cash points to withdraw and deposit cash. The key feature is that the Glow app allows you to send money with peace of mind.
Glow allows you to take your money to higher highs by allowing you to invest in stock and crypto.
Glow makes money management fun for kids.
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?
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 To Send Money with Glow
Step 1: Download and Install the Glow App
The first step to making a cash transaction with the Glow App is to download and install the app on your mobile phone. You will be able to download the app for free from the Google Play Store or Apple Store. Once you've downloaded and installed the app, open it, then proceed to the section "Create an account".
Step 2: Create an Account
To create an account, simply follow the easy steps on the app. You'll be required to provide your personal details, such as your name, phone number, and email address.
You'll also be asked to create a password. Make sure you choose a strong password that is difficult to guess. After this step, you will get to the point where you will have to verify your account by passing through a KYC procedure.
Step 3: Verify Your Account
After creating an account, you'll need to verify it. This is a crucial step in the registration process. You can verify your account by following the prompts on the Glow App. You'll be required to provide a picture of your ID or passport (or visa document if you are a foreigner living in South Africa).
Finally, just take a selfie to verify your identity. Glow app uses a biometric face recognition algorithm, so you don't need to go to the bank branch or any store to confirm your identity.
Step 4: Link Your Bank Account, Send money by EFT, or top up cash at the cash point.
To send cash with Glow App, you'll need to link your bank account or use any other alternative to top up your e-wallet.
This is a one-time process, and it's easy to do. Follow the prompts on the app to link your bank account. Choose to link your account via the app or at a retail store or ATM. Once your bank account is linked, proceed to send cash.
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 we launch our app, and for exclusive Glow app features.