Celebrity Cyber Report Will Smith, Nas

Published On July 11, 2019 | By Tom Huskerson | Celebrity Cyber News

Actor Will Smith and hip-hop artists Nas have teamed up to educate young people about money. The two have invested in the Step app that is targeted at youth to teach them how to handle money in the cashless age. Step is a mobile-based banking service app for teenagers.

Teens can send and receive money from their family and friends and get real-time notifications through the Step app. Another benefit of the app is that teens won’t face monthly or overdraft fees and no minimum balance is required.

Step Financial App

 Step will be linked to a MasterCard. Parents will be allowed to monitor their teen’s spending and as the teens grow, the services of the bank account will also expand.

Some the feature of the Step app include being able to shop in stores or online with a Step card that can be locked or unlocked at any time. Users of Step can earn 2.5 percent interest on their money and earn rewards for saving, sharing and using Step. They can also join a Step Squad to get additional benefits.

Smith’s Dreamers fund is just one of several investors that include the lead investor Stripe, Ronnie Lott, Nas, Jeffrey Katzenberg’s Wndrco, Matt Rutler, Kevin Gould, and Moat founders Noah and Jonah Goodhart. The total investment in app comes to $22.5 million in funding.

In an interview with TechCrunch CEO and co-founder CJ MacDonald said of the app, “Schools don’t teach kids about money. We want to be their first bank accounts with spending cards, but we also want to teach financial literacy and responsibility. Banks don’t tailor to this, and we want to be a solution for teaching the next generation of adults to be more responsible with money in the cashless era. It was easy with cash to go to the mall but now everyone is using their phone for Uber and more.”

The introduction of the Step app is aimed at a massive market of U.S. teenagers that number at almost 50 million.

Step is free and available for Apple and Android devices.

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About The Author

Tom Huskerson Bio Born in Richmond Virginia Tom Huskerson is a military veteran who settled in California after his discharge. Tom attended Santa Barbara City College where he began his writing career as a campus reporter. He worked as an intern news reporter for the Santa Barbara News-Press writing feature stories before moving on to San Francisco. At San Francisco State University Tom studied broadcast communications and began to focus on the Internet. He completed his graduate thesis on Internet advertising. Tom was the first student to ever focus on the Internet as a graduate student at San Francisco State University. After graduation he went to work for Zona Research in California’s Silicone Valley. As a research associate Tom supported senior analyst writing on the latest developments in the Internet industry. During the dot com boom Tom worked for several web businesses as a market researcher and analyst. As a writer and researcher Tom has authored various technical works including a training program for Charles Schwab security. Other projects included professional presentations on workplace violence and hiring security contractors. Tom has also written both fiction and non-fiction works and blogging for a travel website. He has published two books of short stories and completed two novels. Tom is the owner of Scribe of Life Literature and EbonyCandle.com. Tom is not the chief editor for the OnTechStreet. com. A news and information blog that focuses on tech news for African-Americans. The blog is the result of his desire to inform the African American community of the dangers and benefits of the cyber age. In his blog Tom reports on information security, new and analysis, scams and hoaxes, legal happenings and various topics that arise from the age of information. Tom believes that technology is a necessary tool for black people and they should know what is happening. Tom writes believing that techno speak is for the professional and that valuable information can be communicated using plain language. As a result he has embraced the motto, Less Tech, More Knowledge.

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