Cashless convenience

• 500-backed fintech platform Vircle is supporting a Digital School initiative in Malaysia that aims to accelerate digital adoption in public schools by introducing a range of services and solutions such as cashless payments.
• Launched by local telco U Mobile, the first stage of the pilot project is focused on increasing financial literacy and smart money management among students.
• Vircle will enable public school students to perform cashless transactions at the school canteen or purchase items at the school co-op shop and bookstore. These digital interactions helps students to be well-equipped to navigate the digital economy.
• Students will receive an NFC card, while parents can manage their school allowance through a secure app. Parents can also monitor their children’s expenditure and even manage their food intake by pre-ordering healthy and nutritious meals in school.
• Vircle also offers built-in child-friendly safety measures which include the ability for parents to freeze their child’s NFC card if it is misplaced or lost. 
• What’s more? The company also offers Visa cards for kids, enabling children to make cashless payments and perform cash withdrawals from Visa ATMs worldwide using funds provided by their parents.
• Read the full story here.