HyperJar launches world-first ‘willpower tech’, new for 2022

27th January 2022 | Member News , News

HyperJar launches world-first ‘willpower tech’, new for 2022

January 2021

HyperJar launches world-first ‘willpower tech’, new for 2022

  • HyperJar’s new payment organisation and control features deliver ‘built-in willpower’ for its customers
  • It’s the first consumer account to offer routed spending - the ability to link any brand or business1 for direct spending from a sub-account - as w​ell as ‘Only’ and ‘Block’ spending features

UK start-up HyperJar, awarded Most Disruptive Payments Technology and Money Management App of the Year at last year’s Payments Awards, is adding a slew of proprietary new payments features to its app this month.

The free HyperJar money management app uses virtual jars to help people plan and pay for their everyday expenses and reach longer-term financial goals. Jars can be shared with any other HyperJar customer, including children with a free HyperJar Kids Card.

New payment features live in January 2022 include:

  1. Auto-link. Link UK any retailer or brand1 to specific Jars (sub-accounts) for routed payments. For example, Auto-link any supermarket to a Food Shopping Jar in the app – from ASDA to Waitrose – and payments to linked businesses come from the right place and the right budget. Automatically, every time.
  2. ‘Only’. Account holders can restrict spending from a Jar to one or more businesses. If a group of friends is saving up for a weekend away in Barcelona, they can make hotels.com and EasyJet the only places money in that Jar can be spent. Or parents can create an emergency fund in a Taxis Jar for a teenager that can only be spent with Uber.
  3. ‘Block’. Customers can block spending with any retailer at an account level, for an extra dash of digital willpower: if they want to put the brakes on a fast-fashion habit, for example, they’re able to block all spending with their go-to shops for as long as they like.
  4. Never’. A brilliant feature for those who want to prevent spending with a shop or business from a specific Jar – handy for Jars shared with children to stop them spending on fast-food or gaming sites, for example.

“It’s the first-time consumers have had this kind of breakthrough PayTech in a single app,” said Mat Megens, founder and CEO of HyperJar. “Our aim is to give people intuitive, visual tools to plan and spend money. The tech may be complex, but the benefits to our customers are simple: a set of features that offer unparalleled ways to organise and control their finances, packaged in a totally free account.”

 

The new HyperJar features complement an existing line-up of exceptional money management and spending tech:

HyperJar App & Card feature Why it’s great
1. Virtual Jars help visualise money and divide it between different saving-up goals and spending categories. The easiest, most intuitive way to organise our money and spending.
2. Spend directly from any Jar in the app by linking it to the HyperJar prepaid debit Mastercard. A brilliant budgeting feature to track and plan spending and reach goals. The only account that lets you do this.
3. Share any Jar with other HyperJar users to create instant, pop-up joint accounts and digital kitties. An account that reflects the way we plan and spend money in real life – with other people. The only account that lets you do this.
4. *New* Auto-link brands and businesses to any Jar. Link any UK retailer or brand to route payments to a specified Jar in the app. The only consumer app that lets you do this.
5. *New* ‘Only’ spend with specified brands and businesses from a Jar. Choose to restrict spending from a Jar to specified brands and businesses. The only consumer app that lets you do this
6. *New* ‘Block’ spending with specified brands and businesses from your account. Give yourself a boost of digital willpower or put the brakes on certain spending habits with any retailer at an account level. The only consumer app that lets you do this.
7. *New* ‘Never’ spend with a brands and businesses from a specific Jar. Handy for Jars shared with children to stop them spending on fast-food or gaming sites, for example. The only consumer app that lets you do this.
8. 4.8% Annual Growth Rate - ‘Save where you shop’ Get exclusive rewards and grow spending power when you lock in future payments with some of the UK’s best loved brands. The only account that offers this reward.
9. Free Kids Cards and app for children aged 6-17. The UK’s only specialist pocket money app and card for kids 6+ that’s free.
10. Instant spend notifications. Stay on top of spending in personal and Shared Jars.
11. Scheduled payments. Regular weekly or monthly pocket money payments to Jars in the app.
12. Apple Pay and Google Pay. HyperJar can be added to Apple and Google digital wallets for even safer, faster payments. One of the few child cards that can be added to these digital wallets for 13+.
13. Zero added fees for using the card abroad or spending online in a different currency – HyperJar passes on Mastercard’s best available FX rate. Sophisticated features associated with paid-for bank accounts come as standard.
  1. The top 900 UK brands and businesses HyperJar customers spend with.

Images & further information: Tricia Beaumont, 07717 437 196

About HyperJar

HyperJar Limited is a UK-based fintech company. Its HyperJar money management app is an easy, digital version of jam-jar budgeting with a lot of PayTech magic inside. After a successful pilot and soft launch in 2019, the app launched to the public in October 2020 with several technological innovations.

These now include direct card payments from unlimited multiple individual Jars (sub-accounts); Shared Jars for 2-100 people that function as instant joint accounts and digital kitties; and a dynamic Annual Growth Rate on ‘save now, buy later’ money prepaid to partners featured on the app.

Money paid into HyperJar accounts is managed by Modulr FS Limited, an authorised Electronic Money Institution regulated by the Financial Conduct Authority. As a directly connected participant to the Faster Payments and Bacs schemes, Modulr holds and settles funds at the Bank of England.

Mastercard, the world’s fastest payment processing network, provides the payment rails for the HyperJar prepaid card. Carta Worldwide receives and processes all the Mastercard transactions. Monavate Ltd, licensed by Mastercard International, issues the HyperJar card. TagNitecrest produces the HyperJar Mastercard.