# Familial Payment Services Virtual Piggy is Launching a Family-Focused Mobile Banking Solution By Laura McQuarrie | Published 2017-02-16 | Tech Source: Trend Hunter, https://www.trendhunter.com/trends/virtual-piggy References: [nfcworld](https://www.nfcworld.com/2017/02/16/350257/mobile-payments-service-children-begin-beta-trials/) & [virtualpiggy](https://www.virtualpiggy.com/) Virtual Piggy describes itself as a "[family-focused mobile banking solution](https://www.trendhunter.com/trends/ocbc-myown-account)" that is designed to teach children money management skills that will last them a lifetime. The [P2P payment service](https://www.trendhunter.com/trends/paywint) is currently undergoing Beta tests, and ultimately, the platform is set to "[offer] the ability for children to learn how to use the payment tools of the digital economy," within the limits that the built-in parental controls allow. The mobile payment platform for children is set to teach a new generation about responsibly managing their money from a young age—which is one of the most valuable skills to have throughout one's adult life. [Teaching financial literacy to children](https://www.trendhunter.com/trends/lakefront-finance) is a project that many banks and payment services are taking on in the hopes of educating and empowering the next generation. ## Trend Insights (Trend Hunter) - Score: 2.1/10 - Popularity: 20% | Activity: 34% | Freshness: 8% - Audience gender: 50% men, 50% women - Primary generations: Gen Z, Gen Alpha - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Tech](https://www.trendhunter.com/tech) > [Mobile](https://www.trendhunter.com/mobile) ## Key Themes ### Key Themes Behind This Trend - **Family-focused Mobile Banking:** Opportunity for disruptive innovation in developing digital banking platforms with parental controls for teaching financial literacy to children. - **P2P Payment for Children:** Opportunity for disruptive innovation in designing digital P2P payment services specifically for children, with an emphasis on money management skills. - **Financial Literacy for the Next Generation:** Opportunity for disruptive innovation in developing educational programs and partnerships that teach money management skills to children and young adults. ### Where This Applies - **Banking:** Opportunity for disruptive innovation in developing digital banking platforms with parental controls designed to teach children money management skills. - **Payment Services:** Opportunity for disruptive innovation in designing P2P payment services specifically for children, and incorporating parental controls to foster financial literacy. - **Education:** Opportunity for disruptive innovation in developing educational programs and partnerships that teach money management skills to children and young adults, and partnering with financial institutions to support financial literacy. ## Related on Trend Hunter - [Kid-Friendly Digital Wallets](https://www.trendhunter.com/trends/google-wallet-for-kids.md) - [Kid-Focused Finance Apps](https://www.trendhunter.com/trends/abn-amro.md) - [Gen Z Debit Cards](https://www.trendhunter.com/trends/venmo-teen-account.md) - [Teen-Focused Prepaid Cards](https://www.trendhunter.com/trends/savii.md) - [Youth-Focused Financial Education Platforms](https://www.trendhunter.com/trends/financial-education-platform.md) - [Gen Z-Oriented Fintech Banking](https://www.trendhunter.com/trends/hero-financials.md) - [Teen Finance Education](https://www.trendhunter.com/trends/simplybudget.md) - [Kids Finance Apps](https://www.trendhunter.com/trends/foxfund.md) - [Kid-Friendly Financial Support Apps](https://www.trendhunter.com/trends/financial-lessons-for-kids.md)