SEATTLE—Amazon is investing in debit cards that parents can use to teach their children the importance of money.
A company in Atlanta, Greenlight Financial Technology Inc., has developed a debit card that parents can use to teach lessons about saving and spending to children today.
“Amazon has invested in this company because it wants to connect the capabilities of the card—automating allowances, selecting businesses where children can spend, alerts for charges—to Alexa, its popular digital voice assistant,” The Stranger reported.
“We were drawn to Greenlight because of its customer-first approach to give parents the ability to manage their kids’ spending and to give kids the tools to be financially literate. We’re excited about the possibility of bringing the natural and frictionless experience of voice to payments and look forward to working with Greenlight to make that a reality with Alexa,” said Amazon Alexa Fund Director Paul Bernard.
Separately, Amazon is also planning to offer a credit card to small-business customers in the U.S., furthering its push to supply companies with everything from reams of paper to factory parts, Bloomberg reported.
The company has been in talks with banks including JPMorgan Chase & Co. on a co-branded credit card for small-business owners who shop on its website, Bloomberg reported.
“Amazon has been looking for a way to replicate in the workplace the success that's made it a go-to shopping destination for households. In October, the company launched a Prime membership program offering fast free delivery for businesses,” Bloomberg said.
Amazon is hoping the new credit card, which will feature rewards points for purchases, will also let it eventually add offerings such as business insurance through a portal designed for its small-business customers, Bloomberg added.