ATLANTA, Oct. 8, 2018 /PRNewswire/ -- Greenlight Financial Technology, Inc., creator of the smart debit card for kids, teens, and college students, today announced the launch of Greenlight 2.0 enabling customers to create savings goals, make ATM cash withdrawals, and designate funds for charitable donations. These features are in addition to existing, popular features such as the Greenlight Educational Savings Account, Automatic Allowances, and the ability for parents to create "greenlights" in which they can choose the exact stores where their kids can spend and how much they can spend. Greenlight 2.0 is available now on iOS and Android devices.
Since the service launched in early 2017, Greenlight has been a leader in the family finance market, helping parents nationwide raise financially-smart kids. In addition to learning to spend wisely, Greenlight kids have saved over $2 million. After listening to the feedback from their loyal customers, Greenlight has created new savings and spending features, as well as a refreshed user experience in 2.0. Greenlight has received rave reviews and impressive ratings: a rating of 4.8 (out of 5) within Apple's App Store, 4.6 on Facebook, and 4.5 within the Google Play app store.
Innovative Educational Savings Account
With Greenlight 2.0, kids can create Savings Goals for specific purposes - like a new bike, phone, game, or trip. This feature helps kids learn to save by enabling them to focus their saving on a specific goal. Greenlight Savings Goals also earn "Parent-paid Interest" which enables parents to incentivize their kids to save their money, helping them build the healthy habit of saving. Greenlight mom, Carla P., approves, sharing, "Love it and so does my daughter! Our favorite is the savings feature."
Raising financially smart kids is an important feature that carries into 2.0, with Greenlight mom, Cindy E., stating, "We've been using Greenlight for a few months, before 2.0... I was so happy that we found a card for our 13 year old to start being more financially aware and responsible. I really love the card and app. I can honestly say, I love this card, and my kiddo does too!"
With the updated Greenlight 2.0, parents can provide access to ATMs for occasions when their child is in need of cash. Parents can add the "Any ATM" greenlight to set a specific amount that their child can withdraw from any ATM. In addition, parents can still create "greenlights" in which they can choose the exact stores where their kids can spend and how much they can spend. Greenlight mom, Jessica W. shared, "I'm really loving the new features, especially being able to split up where I can deposit my daughter's money."
With the new "Giving" feature, parents can now embrace their kids' compassion and kindness by adding money to their "Give" area, which kids can then use for charitable donations or purchases at non-profit organizations.
"As a team of parents, we know that one of the most important things we can teach our kids is how to make good financial decisions," said Tim Sheehan, CEO & Co-Founder of Greenlight. "We're excited and honored to be helping parents across the country teach their kids the importance of earning money, spending it wisely, and saving it. Greenlight 2.0 moves us closer to achieving our mission of helping parents raise financially-smart kids."
For more information on Greenlight 2.0, updated features and how to get started, please visit: www.greenlightcard.com.
Founded in 2014, Greenlight Financial Technology, Inc. is a fintech company that's committed to helping parents raise financially-smart kids. Its groundbreaking personal finance product, Greenlight®, is the world's first debit card for kids with patent-pending technology that enables parents to choose the exact stores where their children can spend. The Greenlight Card is issued by Community Federal Savings Bank, member FDIC, pursuant to license by Mastercard International. The company started at Georgia Tech's Advanced Technology Development Center in Atlanta, GA, and is backed by leading investors, including TTV Capital, Relay Ventures, NEA, SunTrust Bank, Ally Financial, Canapi, Synchrony, and Amazon.com. For more information, please visit: www.greenlightcard.com
SOURCE Greenlight Financial Technology, Inc.