This collaboration empowers kids in the U.S.
to learn how to spend responsibly while giving parents peace of
mind in the digital-first economy
IRVINE,
Calif. and NEW YORK,
Aug. 7,
2024 /PRNewswire/ -- Today, GoHenry by Acorns, a
debit card and financial education app designed for 6-18 year olds,
has announced a collaboration with Google Wallet to integrate
GoHenry into the new Fitbit Ace LTE smartwatch for kids in the U.S.
The collaboration advances Google's Tap to Pay capabilities in
its Fitbit Ace LTE devices and enables kids under 13 years old
to use a smartwatch to spend their own money safely and responsibly
in the digital world. GoHenry will be featured as a card issuer
within the device wallet, making it easy for parents to empower
their kids with the independence that a wearable payment device can
offer.
Designed for kids ages 7-12, the Fitbit Ace LTE smartwatch
and Fitbit Ace Pass1 provides the benefits of a
smartphone—such as a digital wallet, daily rewards for reaching
movement goals, and secure calling, messaging and location
sharing—without the smartphone.2 Combining the
device's secure Tap to Pay feature and GoHenry's offerings, parents
can have peace of mind as they help kids learn how to manage
money.
How it works:
- A parent downloads the GoHenry by Acorns app, signs up, and
activates their child's new GoHenry debit card.
- A parent activates Tap to Pay on the Fitbit Ace LTE by adding
their child's GoHenry card to Google Wallet through the Fitbit Ace
app3.
- Once connected, a parent can seamlessly use the GoHenry by
Acorns app to add money to the debit card, set spending limits,
decide where the card can be used, and more.
- The child can then use the Fitbit Ace LTE to Tap to Pay with
the money on their GoHenry card—and grow their money management
skills with GoHenry along the way.
"GoHenry empowers kids growing up in a digital world to learn
about and use money in a safe environment," said Acorn's CEO,
Noah Kerner. "Our collaboration with
Google Wallet brings this to life on a wearable payment device,
embodying our mission to make every kid smart with money and
providing parents with more tools to nurture healthy habits in
their kids."
With GoHenry, parents can set up automated allowance, make
instant transfers, select spending limits, and set chores for kids
to earn through the app. Kids and teens can set savings goals, keep
an eye on their budgets in real-time, and give spare change to
charity while learning core money skills through Money
Missions—in-app, expert-led, bite-sized lessons, interactive
quizzes, and videos.
"We're excited to collaborate with GoHenry to bring tap to pay
capabilities to the Fitbit Ace LTE, giving parents a valuable tool
to instill responsible spending habits and help kids gain
confidence while they learn important money skills," said
Ben Greenwood, Fitbit Ace LTE
Product Lead.
As an incentive, parents who sign their child up for GoHenry
beginning August 7 will receive
$20 toward their child's allowance
for free, along with one free month of a GoHenry subscription.
This collaboration comes on the heels of Acorns' acquisition
of GoHenry—now called GoHenry by Acorns, in the U.S.---in
2023. The acquisition advanced Acorns' commitment to deliver
financial wellness for the whole family—providing kids and adults
alike with the responsible tools of money management and financial
education. Acorns is a leading saving and investing app that makes
it easy for everyday people, across life's many stages, to save and
invest for their future. Through Acorns, customers have invested
over $20,000,000,000, much of it in
spare change. UK-founded GoHenry is a global leader in money
management and financial education for 6-18-year-olds with a
mission to make every kid smart with money. Together, Acorns,
GoHenry and Pixpay serve nearly 6 million subscribers across five
countries.
FOR MEDIA: High-res Images Available HERE.
About GoHenry by Acorns
Launched in 2012, GoHenry
is a financial technology company with a simple mission to make
every kid smart with money. The GoHenry debit card and financial
education app is designed for kids aged 6 - 18. Parent and child
apps provide tools to help kids learn about money— by earning,
saving, spending responsibly, giving, and more, all with parental
oversight. In-app Money Missions offer a gamified, integrated
financial education experience that provides a rewarding and fun
way for kids to build financial literacy.
In 2023, GoHenry teamed up with Acorns to deliver financial
wellness to the whole family. For more information, visit
GoHenry.com or follow @gohenry on Twitter, LinkedIn, and
Instagram.
In the U.S. the GoHenry card is issued by Community Federal
Savings Bank, member FDIC, pursuant to license by Mastercard
International.
Press Contact: acorns@ssmandl.com
1 Fitbit Ace Pass is a paid data plan that is
required to access most features.
2 Calling, messaging, and location sharing are dependent
upon network connectivity and other factors and may not be reliable
for emergency communications or available in all areas.
Ace Pass data plan required.
Airplane mode disables calling, messaging and location sharing.
Device is not capable of calling emergency services,
another Fitbit Ace LTE device, or a phone without the Fitbit
Ace app installed. Location sharing is available only for users
with a supervised Google Account.
3 Fitbit Ace app works with most phones running Android
11.0 or newer or iOS 15 or newer.
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SOURCE Acorns