The POSB Smart Buddy programme / 储蓄银行智能伙伴计划 was launched in in 19 primary schools in August. This ground-breaking programme uses wearable tech (a free watch) to teach students how to save and spend wisely by helping them track their savings and spending habits digitally.
What makes POSB Smart Buddy watch stands out is the function of e-payment. The watch helps children take an early step towards digital payments and also monitors their activity levels. Parents can in turn remotely pre-set their child’s daily allowance, send them emergency money, and monitor their kids’ spending, savings, eating habits and activity levels – all with an accompanying app.
The programme further creates a digital payments ecosystem within the school where the school’s canteens and bookstores are set up with digital payment terminals. Students can simply tap and pay with their free POSB Smart Buddy watches.
During the demo session, we were given a first-hand experience to set up the Smart Buddy watch and made purchase on the spot.
The steps to purchase were straightforward – basically, you would just select your orders and click “Pay Now” at the terminal.
Tap your Smart Buddy watch over the Nets machine and balance will be deducted.
Parents can monitor their kids’ expenditure from the app, anytime and anywhere!
|You can also use your Smart Buddy watch at any of these merchants.
Look out for the NETS contactless symbol when you pay.
Paired with a mobile app, you can instantly allocate allowances, check on savings or spending, and be informed of your child’s whereabouts with the bus tracker and in-school locator feature. Most of all, you get to do them all while on the go.
For more information on POSB Smart Buddy or requesting your child’s school (if they are not yet on board) to adopt this programme, click here.
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