back Back

HyperJar launches with digital jam-jar budgeting in the UK

By Megha Bhattacharya

October 20, 2020

  • Hyperjar
  • UK
Share

Money management app HyperJar today announced its launch in the UK with a digital version of jam-jar budgeting for offering UK customers a better way to manage their money. The app’s account holders can divide their money into virtual jars depending on their spendings. App customers can share jars with up to 100 other people, as well as lock-in future spending with HyperJar retail partners for a 4.8 % Annual Growth Rate. The app, which is intended to complement someone’s main bank account, comes with a prepaid debit card which can be added to Google Pay and Apple Pay.

“There’s been a hostile environment for saving and planning for years, and the gravitational pull of easy credit has never been stronger. A new way for people to budget and spend well is overdue”, said HyperJar’s founder and CEO, Mat Megens.

HyperJar stated that its users also benefit from faster payments, real-time spend notifications, card freezing and unfreezing in the app, as well as zero fees on spending abroad or shopping in a foreign currency.

“The effectiveness of splitting out budgets and naming savings goals is well known, and our early customers tell us that adding a fraction more friction to their spending – taking a bit of time to think about what they want to spend in future – works. Visualising and allocating their money like this gives them clarity, control and confidence.”

The app is expected to expand its partner base by including charities, utilities and SMEs, with local pubs, cafes, kids’ centres, speciality food shops and restaurants starting to join the app over the next few months.

HyperJar also stated that it will be introducing a new pocket money Kids Cards for 6-17-year olds, managed in the adult account. The cards will be free to order for the first 10,000 adult account holders, with zero monthly subscription fees for everyone.

Previous Article

October 20, 2020

Top 5 FinTech announcements from mid-October 2020 for the UAE

Read More
Next Article

October 20, 2020

R3 and Mphasis partner to develop a blockchain-based payments solution

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

Hyperjar

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Revolut teams with Jabil to scale development of mobile payment solutions

Read More

Today

Worldline partners with Google to enhance cloud-based innovation

Read More

Today

Tiqmo partners with Mastercard to issue prepaid cards in Saudi Arabia

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023