Starling offers account holders a second debit card - Business Insider - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Starling is launching a debit card for personal accounts to help those who are self-isolating and having people shop for them

Connected cards were designed with the coronavirus pandemic in mind and are meant to help those who are self-isolating "pay for supplies bought for them by trusted friends and neighbors without the hassle of transferring money or handling cash," Starling Founder and CEO Anne Boden stated, according to Crowdfund Insider.

Connected cards seem well tailored to the coronavirus crisis, but adoption could struggle if customers choose to pay their helpers with peer-to-peer transfers instead. The offering could definitely streamline the payment process for self-isolating customers who only have one person who regularly helps them with their shopping needs, as they only need to pass out a Connect card once, eliminating all future transfers and cash exchanges.

It would also be very useful for self-isolating customers whose helpers are dealing with financial hardships from the crisis and can't afford to pay upfront and be reimbursed later. However, for those with several helpers, having to pass the card around could become enough of a hassle that they simply opt to use P2P transfers through their mobile bank apps instead, diminishing the demand for Connected cards.

Major demand for Connected cards could recede after the pandemic ends, but the offering could be repurposed in the future. While Starling's new offering seems primarily designed as a response to the ongoing crisis, the general concept of an additional debit card connected to one account but with additional restrictions is versatile and could be leveraged into a different offering when the pandemic is over.

One possibility is that it could be reworked into an offering for children (to complement Starling's existing

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Good!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Card networks are encouraging contactless payments worldwide - Business InsiderCard networks are raising contactless payment value limits and working with issuers to send out cards to help stem the spread of the coronavirus.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Express Scripts is offering SilverCloud Health's line of mental healthcare tools for free - Business InsiderOffering SilverCloud Health's line of tools will likely appease Express Scripts' payer clients, who are staring down swelling mental healthcare costs amid the pandemic
Source: BusinessInsider - 🏆 729. / 51 Read more »

'Fast Grants' offer $500K for COVID-19 research, 48 hour turnaround - Business InsiderA group of tech billionaires is funding ‘fast grants’ of up to $500,000 for COVID-19 research, with every grant decision made in less than 48 hours
Source: BusinessInsider - 🏆 729. / 51 Read more »

How the $349 billion PPP relief program for small businesses unraveled - Business InsiderAmerica's small-business owners hoped a $349 billion lifeline from Washington would pull them through the pandemic. Here's the inside story of how its launch spectacularly unraveled in 24 hours. I need this money! AnthonyMasonCBS Thank you for not sharing!
Source: BusinessInsider - 🏆 729. / 51 Read more »

Best stocks to buy for cheap prices amid coronavirus: Morgan Stanley - Business InsiderFrom Apple to Xilinx, Morgan Stanley analysts explain why these stocks will be profit makers long after the coronavirus crisis ends.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Coronavirus: UK live updates, 7,090 deaths and 55,242 coronavirus cases reported in Britain - Business InsiderThe UK has confirmed 7,090 deaths and 55,242 coronavirus cases as Britain suffers its worst day of the COVID-19 pandemic. catching*
Source: BusinessInsider - 🏆 729. / 51 Read more »