Award-winning digital start-up MyPocketSkill to provide teen accounts to help GenZs Earn, Save and Learn about money in partnership with embedded finance provider UNIPaaS
London, 27th May 2021
MyPocketSkill, a teen earning & saving platform, is to team up with UNIPaaS, a provider of end-to-end payment solutions, to enable UK 13-21 years old to connect with money-earning tasks and to save towards their goals with the help of digital e-wallets.
MyPocketSkill, which launched a UK-wide innovation pilot with the Money & Pension Service, is on a quest to create financially empowered GenZs. The pilot is part of a UK government funded programme to help 2 million more children and young people receive a meaningful financial education by 2030. Since then MyPocketSkill has almost double its user base to c. 5000 users with over 3000 transactions and engaging with almost 1000 teens via the platform.
Given the success of the platform, Zara Ransley, a Co-founder & Co-CEO of MyPocketSkill, was selected as a winner of Innovate UK’s Women in Innovation Award 2021.
Zara Ransley, Co-Founder of MyPocketSkill said:
“We are really excited about partnering with UNIPaaS and its experienced payments solutions team. Connecting young people with earning and savings opportunities is a powerful concept, nudging them to develop positive financial behaviour through a ‘learning-by-doing approach. The addition of e-wallets takes us closer to enabling teens to manage their money and save towards their goals, building an eco-system that can potentially include other financial service providers to support them. “
David Avgi, Co-Founder of UNIPaaS said:
"Since the first time we engaged with MyPocketSkill and learned about the company's vision, UNIPaaS wanted to be part of designing the right solution. UNIPaaS is built for marketplaces and supports embedded onboarding, eWallet management, payment process automation and faster payouts. I'm delighted to see how quickly and smoothly the talented team at MyPocketSkill has adopted and embedded our solution, and I'm looking forward to the new features rollout."
The MyPocketSkill platform has already helped thousands of teenagers to “Earn, Save and Learn” about money and develop a wide range of skills with the help of the TeenTutors and Digital Teens programmes.
The company was set up in 2017, by two parents, with backgrounds in finance, technology and youth policy, Matthew and Zara, to address the gap between teenagers wanting to earn pocket-money and have some financial independence and opportunities to do so.
MyPocketSkill has achieved notable success, including funding awards from Innovate UK, the UK’s innovation agency, reaching the finals of the 2020 Great British Entrepreneur Awards, the Global EdTech Start Up Awards and the TechCrunch Europas Awards, 2019.