LONDON—A British woman who acts as caregiver to her parents has partnered with Mastercard to launch a debit card to help people living with dementia and their families to better control their spending.
According to AltFI, both of Jayne Sibley’s parents are living with Alzheimer’s, and after noticing her mother’s condition worsen and seeing her start to mismanage her money Sibley saw a need to protect both her mother’s everyday money and her independence.
“She wanted to empower her mother to spend her own money, by herself, within safe limits,” AltFi reported.
In response, Sibley created Sibstar, a debit card app that allows people living with dementia to access and spend their money while also providing safeguards around how and where that money can be used through the app.
‘Supporter’ Can be Involved
The card offers an option of having a “supporter” download the app who can assist in managing the cardholder’s everyday spending.
Sibstar describes the card as a “profit with a purpose business,” and donates 7.5% of the card’s net profits to the Alzheimer’s Society.
More information, including a video by Sibley, can be found here.
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