Create the next best FinTech for students

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The experience of being a student today is the biggest education of all. Between juggling a social life, family, work, study and assignments, students are becoming masters of balancing time with commitments.

The real kicker, though, is when it comes to balancing money. This is always a bit of a squeeze for most students. The trouble is they don’t have a lot of time to work outside of their studies, and when they do, the pay is usually pretty mediocre. So why not make it easier for students to get ahead?

Students need financial products that make them the heroes of their own stories. This is the increasing role of FinTechs.

Successfully accomplishing this could mean gaining a customer with decades of purchasing power ahead of them. Planning for this can mean gaining long-term, loyal customers across other revenue streams of the business.

What do you mean FinTech?

FinTech is a term used to describe companies that use technology to make financial services more efficient, easier to use, and, ultimately, cheaper for the customer. They are usually born with the purpose of disrupting old and outdated financial systems and corporations. They rely more on software and technology. But here is the thing: all companies can benefit from this type of thinking. Why not boost your bottom line and allow the end-user to do what they need to do better?

A general-purpose reloadable card (a.k.a. the prepaid card) is a great solution for FinTechs because it does a few things very well:

  1. Great service and less red tape compared to launching a debit or credit card.
  2. It helps reduce debt, not increase it. Traditional lenders often make debt sound like it’s a necessity. It is not. You can build brand loyalty and set a student up for success with no monthly fees, no transaction fees, and no excess charges, (though you can set your own fee schedule).
  3. You can make payments simpler and safer. Prepaid cards are not tied to primary financial assets.

So why have we taken the time to tell you about FinTechs? The reason is that we, Vasco Pay, can help you launch the next great FinTech company or product in your organization. We are here to help you discover the opportunities in the Student Fintech space. We have experts ready to guide you through the intricacies of launching a card program and student-focused marketing initiatives you can take to make your program more successful.

If you’re a company and are interested in launching a student-aimed card program, get in touch! We’d love to work together on making your project a success.

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