Woman, Mastercard develop special card, app for dementia patients
A British woman, with the backing of Mastercard, has developed a flexible debit card and app designed to help people living with dementia, and their families, manage their money and spending.
Sibstar was created by Jayne Sibley in response to the experiences of her parents, who are both living with Alzheimer’s.
With her father living in a nursing home, Jayne noticed that her mother June was starting to mismanage her money, making several ATM withdrawals a day and then losing the cash or giving it away. She also frequently fell victim to phone scammers.
While several UK banks offer caregiver cards that allow designated shoppers to spend money on behalf of people living with dementia, Sibley wanted to ensure her mother retained some autonomy.
Her answer is Sibstar, a prepaid debit card and app that allows people living with dementia to access and spend their money while keeping it safe by managing how and where that money can be used via the app.
Says Sibley: “Having access to money allows people living with dementia to remain connected with their community. A trip to the grocery store isn’t just about stocking up the kitchen — it’s also an opportunity to chat with a cashier or bump into a neighbour.”
In addition, Sibstar is designed to help ease the burden on caregivers who are often left chasing down refunds or compensation for their loved ones.
Sibstar is a profit with a purpose business, charging £4.99 a month but committing to give 7.5% of its net profit to the Alzheimer’s Society, which has backed the app.