MasterCard International on Thursday came out with a credit card primarily designed for Sri Lankas burgeoning teenage market.
Hatton National Bank, its local partner hopes teenagers would make use of this opportunity to learn basic banking habits of accountability, responsibility, ownership and financial discipline.rn
rnAptly named lquote Hot Shots, the card is targeting teens over 15 years of age.rn
rnldblquote There is no ceiling in the age limit. Children can go on using it while they are pursuing higher studies with the financial help from their parents,
dblquote HNBs CEO, Rienzie T Wijetillake told media on Thursday.
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rnHe defended criticism that the bank was encouraging teens to spend more. ldblquote I dont think so. Its a peace of mind for parents because they get an opportunity to monitor their childrens spending patterns, dblquote he said.rn
rnHNB is looking at signing up around 100,000 customers during the next 18 months. A further 200,000 customers currently have savings accounts