Revolut launches new service for 6 to 17 year olds in Japan

Revolut Technologies Japan has launched a new service targeting children and teenagers aged 6 to 17, designed to help them learn financial literacy in a gamified way through daily life experiences. By using separate apps for parents and children, the service provides features that allow learning about money management through communication. Its key characteristics include complete digitalization of pocket money management suited to the cashless era and high international capabilities for managing expenses during overseas travel or study abroad, while allowing parents to respect their children's autonomy and provide appropriate spending guidance.

The Japanese government aims to promote cashless payments, with a goal of reaching a world-leading 80% cashless payment ratio in the future. As of 2023, the cashless payment ratio has reached 39.3%. In the current society transitioning to a cashless era, where financial education is now mandatory in high schools, providing children with appropriate financial literacy education at an early stage is an essential element for their future economic independence.

The Revolut service for 6-17 year olds adopts Revolut's proven security features, such as the ability to easily suspend card usage within the app, with additional innovations to ensure children can safely experience economic mechanisms. Currently, it is used by over 5 million people in 20 countries worldwide, including the United States, United Kingdom, across Europe, Australia, and Singapore.

Main Features and Characteristics

International Capabilities and Low Fees

• Target Age: 6-17 years old
• Debit card payment with touch payment possible domestically and internationally
• Pocket money management suited to the cashless era
• Practical financial literacy education through enjoyment
• Support for parental management needs and children's economic independence
• International capabilities suitable for short-term study abroad or travel expenses
• Comprehensive features for parents and children to use together
• Balancing safety and ease of use

Features include:

• Regular or one-time pocket money deposits (charging)
• Instant, free money transfers between children (available for ages 13 and up)
• Immediate sharing of all income, balance, and transaction history with parents
• "Challenge" help function that can be enjoyed like a game
• Intuitive budget management and expense analysis through automatic categorization
• Card design and app customization (Custom card: ¥700/Standard Plan)
• Appropriate management and security settings that respect autonomy
• Number of child accounts one parent can link (Standard Plan: 1 / Premium Plan: 2 / Metal Plan: 5)

Financial Literacy Education through Gamification and Security

The service allows children to naturally learn about earning, spending, and managing money in a game-like manner, providing high educational value.

For travelers and short-term study abroad participants, benefits include:

• Payments in 150+ countries with advantageous rates and low fees
• Free real-time money transfer to children abroad for living expenses
• Free real-time transfers between users from anywhere
• 0% overseas transaction fees when paying in local currency
• Dedicated child's card
• Experiencing economic mechanisms through the game-like "Challenge" feature
• Experiencing household management through intuitive budget management and expense analysis
• High transparency and excellent app UI allowing parents to immediately track children's transactions and balance
• Designed with proven security and monitoring features to make teaching financial literacy easier

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