- Euro Asia Pay Holdings (EAP) is launching a new enhanced SideKick product powered by Mastercard
- The product includes an exclusive Budget Tool that allows parents to set spending budgets for students
- The card makes it easy and safe for parents of international students to monitor, budget and spend funds in Canada
- Parents are able to decide how much money to deposit onto the student’s SideKick Card and use the Budget Tool to manage funds
- Euro Pay Asia is down 10.20 per cent, with shares of the company trading at C$0.22 at 10:10 am ET
Euro Asia Pay Holdings (EAP) is launching a new enhanced SideKick product powered by Mastercard.
The product includes a variety of card features including an exclusive Budget Tool that allows parents to set spending budgets for students.
International students will have access to a physical SideKick Card issued by Mastercard that makes it easy and safe for them and their parents to monitor, budget and spend funds in Canada.
Parents are able to decide how much money to deposit onto the student’s SideKick Card and use the Budget Tool to control funds while students can keep track of their spending on the SideKick app.
“The new SideKick Card brings the ability of monitoring and budgeting living expenses to parents of international students who wouldn’t normally be able to do so using other alternatives. This provides a substantial benefit to customers who use our product and a unique selling point for agent partners who introduce the financial solution to their clients. The additions of the Budget Tool and other card functionalities to the SideKick product are a game-changer for both existing and new customers. Until now, parents had no ability to monitor how the money was spent when sending their kids to study in Canada and usually had to send more money to cover non-essential expenses. With SideKick, parents have more control over their kids’ spending and can have peace of mind that students won’t mismanage their funds and spend large sums on unnecessary items,” said Euro Pay Asia Executive Officer Peter MacKay.
The Globe and Mail reported that international students contribute an estimated $22 billion a year to the Canadian economy.
Euro Asia Pay Holdings is a developer of financial solutions for the next generation of consumers. Its first product, SideKick, enables parents to transfer, control and monitor payments to their children in a simple, intuitive manner. The product includes a student-facing mobile application, a prepaid student payment card and a parent portal, among other features.
Euro Pay Asia is down 10.20 per cent, with shares of the company trading at C$0.22 at 10:10 am ET.
