ClassWallet is an app that provides a more efficient way for teachers to collect, manage and spend money for classroom needs. The app has been in beta testing with about 500 teachers for the past few months, but it will soon be launched, according to TechCrunch.
ClassWallet was founded by Jamie Rosenberg, who realized that all of the red tape involved for teachers to get access to discretionary spending money wastes both time and money. Rosenberg wants to make the funds more accessible to the teacher by foregoing all of the hassle of sending forms from the school to the district to the bank.
With the use of ClassWallet, a foundation or donor can submit an endowment to the district, which then deposits the money directly into the teacher’s ClassWallet account. The teacher can then access the money to purchase classroom items from vendors online, or he or she can transfer the money into prepaid cards through MasterCard for purchases they cannot make online, such as field trip expenses. To make the spending process go more smoothly for teachers, ClassWallet is partnered with retail suppliers Scholastic, School Specialty, Carson-Dellosa, Office Depot, Best Buy, among others, according to TechCrunch.
The app also tracks all transactions for easy spending management. Teachers and administrators can access PDF expense reports to make sure spending is being done efficiently and responsibly.
Teachers can also use their account to communicate with parents and donors and to arrange for fundraising campaigns.
The company may have some trouble in coaxing districts within the education system to pay for the service, but ClassWallet has made a case for itself by showing how much time and money the app can save.