PrePay Solutions has recently partnered with Vybe targeting millennials. Launched in September 2020, Vybe offers a free payment card for youth between the demographic of 13 to 18 years and an application to help manage their spending. Each user has a French IBAN and can make purchases with their mobile phone.
Vybe’s ewallet allows customers to spend, utilising full debit BIN capabilities. With only 10 percent of teenagers being bank authorised, France counts five million young people aged 13 to 18 years old with no access to financial services.
By utilising PPS’ emoney licences and technology infrastructure, all Vybe accounts come with a PPS-powered Mastercard virtual card as standard, which can be added to customers’ digital wallets within minutes of applying and used for contactless and online spending. With that, customers will be able to choose to order a physical, contactless, PPS-powered Mastercard card, which can be used for POS payments and ATM withdrawals anywhere that accepts Mastercard.
Vincent Jouanne, CEO and Co-founder of Vybe, said in a statement, “Together, with the hard-working PPS team, we have created something truly special that is redefining financial services for a generation that has historically been facing difficulties in accessing such programs. As one of the first in the space committed to teenagers, we hope to receive back the same loyalty we have provided, expanding further across Europe and into the UK, and achieving 300,000 sign ups by next year.”