On 29th anniversary of Golomt Bank, we officially launched the SocialPay Junior application for children.

The development of the country is directly dependent on the civil education, specifically financial education. Therefore, it is important to set potential citizens of the future and provide financial education to children from an early age.

In the research “Habit Formation and Learning in Young Children” released by behavioral researchers from the Cambridge University, mention that financial education should be started at an early age between 3 to 6 years old. Because the approaching habit is formed at this age. Children, from the age of 7, able to deal with money they own, make purchases, choose by comparing values and options, save money independently. Therefore, giving them the opportunity to manage their finance and instilling the experience of the right use of money will have important impact on their financially educated future.

 

About 1 million and 1/3 percent of the total population of Mongolia are between 7 to 18 years of age.

At this time when financial services aimed at pre-teens and teens are regularly launched, the SocialPay Junior application is possible to make payments with QR, send money and invoices, book tickets for leisure and buy mobile services and data from the application.

Also, you can set a transaction limit on the application. It will prevent your child from overspending.

Special features of SocialPay Junior application:

• Send an invoice to a friend who uses SocialPay Junior.
• Transfer to all bank accounts.
• Pay using all QPay and SocialPay QR.
• Take rewards and discounts from the loyalty programs.
• Book public transportation and entertainment tickets and make purchases from online stores through the “Mini App” menu.
• Charge the Umoney bus card and purchase mobile units and data.
• Save using the “Team Savings” and “Savings Assistant” services from the “Mini App”

The SocialPay Junior application will be the SMARTEST choice to help your children manage their finances, control their incomes and expenses, and learn financial education. Therefore, we recommend the parents and the new generation kids to join the SocialPay Junior digital wallet.

Customers who have a Golomt Bank’s account can log in with your registration of the Internet bank. But if you are not a customer of Golomt Bank yet, please visit the nearest our branch and make your registration of the SocialPay Junior application. Children who have not yet received their identity cards should come with their parents.

Please download the SocialPay Junior application.