Foloosi says it will let users complete their daily transactions without having to reach for their physical wallets. The idea is to act as a mobile wallet so users can carry their credit card or debit card information in a digital form.
This gateway connects the buyer and agent for any online payment transaction. The value stored on the wallet can be paid in exchange for any goods or services purchased online.
What is more, Foloosi says parents can send and track money to their kids. Features include a family allowance application to track stipends – “power to kids, no pestering for parents!”
There are also money-handling tips and child friendly stores. The latter will display kids’ toys and books, so they can spend their allowances under the parents’ control.
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