Nick Pompe, founder of Lootlack – an app that prevents children from running unauthorized gaming bills on their parents’ credit cards – is a fond chawla game and software developer working in Fintech.
As a father under two, he is eager to share his passion for gaming with his children when he gets quite old to play. He started gaming at the age of 6, he told Techcrunch. Lotlock was selected for Techcrunch’s 2025 Startup Batalfield 200 and will be displayed in San Francisco from 27 to 29 October in Techcrunch Disrupt.
As he told about gaming with other parents, or just read the news, he kept listening to the scary stories of children with his parents. Surprise credit card billSometimes running inadvertently Thousand dollars,
There is a notorious side to use “Design Tricks” as Consumer Financial Protection Bureau in the Gaming Industry It is described last year. They often target children, enticing them to unlock fee-rich game features. Other agencies, such as FTC have released Similar warning,
Pompes said, “The gaming industry uses clever design, social engineering and player tracking to encourage children to spend more money while playing.” “I am a fond Chawla gamer, so I have seen harsh changes in micro-transports in the industry in the last eight to nine years.”
However, FTC forced the fortnight to return the fortnight earlier this year People who filed claims $ 126 million, it is rare. Parents generally have no support to pay.
Specific advice is for parents to use device-level parents control that block in-app purchases. But, Pompe said, many of their parents are fine with spending a little money on such purchases for children in the right circumstances.
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He told the story of a friend of the name, which inspired Pompe to make a loot. Who is a father for three children, all fond of chawla gamers. Which gives each child an allowance every month, and the children were using money to buy gaming products, installing a ridiculous system, where they handed them the allowance cash and they handed it back to pay the credit card. And he had to closely monitor his shopping.
Luklock allows parents to load a digital, prepaid credit card automatically, which is released by the Lootlock partner, the transcard, that the children add to the digital wallet of their device.
Parents can automate a fixed amount of allowance to be added to the card, call weekly or monthly, and then no part of it can be available immediately. For example, the child can unlock more, for example, complete your tasks. Parents can approve the increase in cards through a text message.
Pompe said, “We are giving super grain control to parents about how their children can spend and when their children can spend,” Pompe said.
Lootlock is also working with an upcoming feature, which will be available in October, called “Bounty Boards”. Parents established these boards which are essentially a list of child’s works. Like – children complete them – their rooms, pets care, etc. – they earn a “reward”. And when they kill the threshold of the bounty of a set of a parents, the app will unlock the additional allowance to spend.
There is also a gamified financial education component. Children choose an avatar and as they practice good expenditure habits, such as checking their looting dashboard that tells them the balance of their account, they earn digits that add equipment for their avatar: swords and armor, etc. Their avatar is constantly integrated into the looting anywhere, such as its discord saver.
“We are tying all financial concepts into a video game concept,” said Pompe.
Lootlock balances are also banned only to spend on gaming products and cannot be used to purchase other on the Internet. Therefore, the parents do not have to monitor what kind of items the child is buying online. For now, the idea is to focus on teaching children responsible gaming.
The startup currently employs seven people and is completely bootstraped.
If you want to learn from Lootlock Firsthand, and do dozens of additional pitches, look at valuable workshops, and make connections that run business results, Head to learn more about this year’s disintegrationIt was held from 27 October to 29 October in San Francisco.
