Spare vs Edfundo

The Spare platform connects schools, stores on campus, parents, and students. At Spare-enabled schools, parents can rest assured that their children have arrived at school safely, and are able to buy whatever they want without carrying any cash. Furthermore, they can add limits to their child's account to promote healthy spending habits, and can keep track of their child's nutritional intake. The on-boarding process is simple: parents download an app, pair their child's wristband, and recharge their account using cash at the school or using their credit card in-app. The platform does not require a credit card nor a bank account, nor does it require any complex sign-up procedures; all you need to get started is a valid phone number, a Spare Digital ID, and a quick visit to the app store.

Edfundo is the world’s first family-focussed Financial Intelligence Hub, comprising a Learning Lab and Smart Money Management App created by Teachers. It is built for kids and teens to champion a new era of financial literacy, digital inclusion, and mental wellbeing. The Edfundo Learning Lab, the smart money app, and the associated pre-paid debit card are designed to help ensure youngsters are informed stakeholders in the journey towards a responsible, cashless society. Curated around the principle of ‘doing is learning’ the Edfundo Lab and App, which has rigorous parental controls, are designed to be highly interactive and fun, with rich and engaging educational content where users can learn good financial habits from earning to budgeting to spending and to saving. The products and services mentioned on this webpage belong to Edfundo Tech Limited as a financial technology company and not a bank. Edfundo Tech Limited does not offer or provide any banking or financial services either through itself or affiliated entities. Edfundo Tech Limited provides certain facilities for utilization of payment services through Nymcard Payment Services LLC under the applicable payment network and Bank Identification Number Sponsorship of Mashreq bank PSC. This is pursuant to the license by Visa® Inc and is available only for the residents of UAE subject to the Terms and Conditions of use.