Tinkoff Bank launches Tinkoff Junior mobile app for children and teenagers

Moscow, Russia — 19 October 2018.
Tinkoff Bank is expanding its banking platform for children and teenagers with the launch of Tinkoff Junior, a mobile app that gives young clients an easy-to-use and robust tool to manage their personal finances.

Parents can open a current account for their child via the Tinkoff.ru website or Tinkoff mobile app, with a Tinkoff Junior debit card added by default. The card can also be added to a young client’s smartphone to allow them to make contactless payments via Apple Pay, Android Pay or Samsung Pay. Parents and their children can choose the card’s design.

Tinkoff Junior card holders will also join the Tinkoff Junior loyalty programme, which awards bonus points as follows: 2% of the purchase amount as bonus points for online shopping and 1% for other purchases, including movie tickets purchased via a mobile app. Bonus points may be spent on online shopping as well as items such as restaurants and fast food. The amount of bonus points spendable during the settlement period is capped at 2,000.

Children and teenagers can use the Tinkoff Junior mobile app to pay for a variety of services such as school meals, games and their mobile phone. They can also set spending limits, change their PIN and choose app themes such as space, wildlife, travels or dinosaurs. In addition, Tinkoff Junior’s young clients will be able to open a money box (savings account) and top it up, including via Card 2 Card transfers.

Young clients will be able to reach Tinkoff Bank’s managers via chat and have access to age-relevant content in Tinkoff Stories such as advice on using bank products, a What’s On guide and other lifestyle events.

Parents can use their own mobile app to top up their child’s Tinkoff Junior accounts, offer financial rewards for doing tasks (the child has the option to decline), as well as change spending limits and enable the «Where is My Child?» feature to keep an eye on their child’s whereabouts.

Tinkoff Junior will be adding lots of new exciting and useful features for children and adults in the coming weeks and months.

«While you are reading this, the world of financial services has already changed. Similarly, today’s children and teenagers will soon become the banks’ primary audience. It will take no more than five or seven years for them to start opening deposit accounts and using credit cards. As we speak, they often prove to be more advanced in modern gadgets and solutions than their parents. In developing Tinkoff Junior, we sought to go beyond promoting financial literacy among children and teenagers as we leveraged our hands-on experience in managing personal finances. Our objective is simply to support this knowledge with an easy-to-use and robust tool," said Maxim Yevdokimov, Chief Digital CX Officer at Tinkoff Bank.

Tinkoff Junior is available for parents and their children as an iOS-based mobile app and via their account at the Tinkoff.ru website (for parents only). Tinkoff Junior for Android will become available within the next week.

For more details on the Tinkoff Junior debit card fees, please follow this link.

About the Group

TCS Group Holding PLC is an innovative provider of online retail financial services operating in Russia through a  high-tech branchless platform. TCS Group includes Tinkoff Bank, mobile virtual operator network Tinkoff Mobile, Tinkoff Insurance, and Tinkoff Software DC, a network of development hubs across Russia.

The Group was founded in 2006 by the Russian entrepreneur Oleg Tinkov and has been listed on the London Stock Exchange since October 2013.

With no retail branches, the Group serves its customers remotely via online channels and its call centre, and operates a network of over 2,500 representatives to ensure smooth delivery of its products. The network covers all of Russia and allows next day delivery to most customers.

The Group’s key business is Tinkoff Bank, Russia’s first and only direct bank offering both own brand and partner retail financial services via its Tinkoff.ru platform. The product range includes daily banking (credit and debit cards, payments, money transfers), savings, investments, loyalty programmes, travel services, SME services, mortgage platform, and insurance. With its special focus on mobile business, the bank offers mobile applications both for its customer base (Mobile Bank) and beyond it (Traffic Fines, MoneyTalk, Card 2 Card instant money transfers).

As at 1 May 2018, the bank was the second largest player in the Russian credit card market, with a market share of 11.7%. The 1Q18 IFRS net income of TCS Group Holding PLC amounted to RUB 5.7 bn, ROE grew to 68.5%.

Banki.ru, Russia’s largest financial news portal, named Tinkoff Bank the Bank of the Year 2016. In October 2016 Tinkoff Bank was named the largest independent global direct bank by Frost & Sullivan. In 2015 and 2016, the Global Finance magazine named Tinkoff Bank as the Best Consumer Digital Bank in Russia. In 2016, the bank also won Global Finance’s Best Integrated Consumer Bank Site award and was named the Best Digital Bank in the CEE by Euromoney. The bank’s mobile application was recognised as the best in Russia by Markswebb Rank & Report for three consecutive years in 2014, 2015 and 2016, and by Deloitte for four consecutive years from 2013 to 2016.