Singapore’s POSB bank recently launched the POSB Smart Buddy programme, which equipped 6,000 primary school students with smartwatches.
These all-in-one school wearables help kids how to spend and save money responsibly, making it possible for them to use the wearables for everything from paying for lunches to purchasing items from the bookshop. To check on their balance, students may scan their smartwatch at a designated kiosk in the school. To challenge kids and impart important lessons, parents are even able to set spending goals, as well as spending restrictions.
As well as serving as an educational tool for learning about money, the POSB Smart Buddy smartwatches also serve as fitness trackers and provide a notification system to parents about their child's whereabouts, such as when they board a school bus.