Traditionally, men looked after the family’s finances.
But a new US debit card startup aimed specifically at women is changing all that.
The startup forwards money to the card user for a purchase, whereupon the amount is automatically withdrawn from the buyer’s account and reported to the relevant credit bureau.
Successively, the client’s credit history is built up, a prerequisite for credit. In the past this has been routinely denied to women who use their father’s or partner’s card.
Investors’ enthusiasm for the project was so great that the founder was able to generate significant start-up capital.
Many female investors see the potential.
A companion for the wooden credit card, perhaps – especially if there was a woman-only version!