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Singapore Life acquires prepaid Visa card brand Canvas

Tuesday 19 February 2019 | 12:11 PM CET

Insurance technology startup Singapore Life has acquired prepaid Visa card brand Canvas from local payments startup Yolopay.

The acquisition is part of the insurer’s expansion in the financial services space. The Canvas app, which will be available mid-2019 on Android and iOS devices, provides a cashless method for parents to issue pocket money and manage spending limits via a prepaid Visa card.

Singapore Life is reportedly looking at launching the app for public transport, considering teenagers spend nearly 70% of their money on travel-related activities.

More: Link
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