Casablanca – Morocco’s Banque Centrale Populaire (BCP) has launched SWIPE, the first banking service of its sort in the country reserved for 12-17-year olds that seeks to reinvent the notion of pocket money through an application and a personalized bank card.
Innovative, free, and 100% online, the SWIPE offer allows young people to take their first steps toward financial independence in total security, BCP said in a statement.
The SWIPE application enables the young beneficiaries to withdraw money from ATMs without a card, pay bills and phone top-ups, make purchases from businesses through QR codes, and send money to an m-wallet or a bank account.
It also allows them to request money from family, check their balance, and follow their transactions in real-time, according to the bank’s press release.
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With the SWIPE card and its 4 customizable designs, BCP’s teenage customers can pay for their purchases in stores as well as online on national and international e-commerce sites.
In addition, parents who are Banque Populaire clients may also use the Pocket Bank mobile application to access a variety of services that help them manage their children’s money.
Parents can also send money to their children’s SWIPE account, view real-time transaction history, instantly deactivate and reactivate the SWIPE account and card, and customize payment options and SWIPE card limits.
This new offer is significant for the bank as it consolidates its position as a universal and inclusive bank serving all segments of the population, concluded BCP’s statement.
