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FamPay Numberless Card — India’s first neobank for teenagers
FamPay is India’s 1st neobank for teens
Teens use the FamCard for online and in-store purchases, and they can send money to friends and make UPI payments through the app just like they send a message or photo 😉
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Hey there PH!
I am Kush, Founder of FamPay (YS S19)
We are two college grads who built fampay because we were disappointed that schools or banks don't focus on educating the youth about the fundamentals of personal finance, which is the backbone of good financial health. We realized that in today’s cashless era, the only thing that can make people more responsible with money was practical learning.
On discovering that the GenZ usually has no bank accounts, no access to digital payments and is totally dependent on cash from parents, we decided to create the first accounts for them with a spending card, and that’s when FamPay was born.
We are looking for the builders of the first order to join us, hit us up at founders@fampay.in if you are interested!
Cheers
Kush & Sambhav!
P.S: we are all ears for the story of your first-ever transaction, while in teenage, that you may have! Please share :)
@sambhav_jain5
@basim_aman
Since we're integrated with the Bank and are certified by PCI DSS, which are the basic standard security practices followed by major fintech companies.
We also some measures in the app which doesn't allow teenagers directly to add money, or transact more than a certain amount without the consent of their parents :)
Also, we give out numberless cards which are much more secure. And the card can be managed through the app by the kid and the parent. It can be paused or blocked instantly.
Brilliant stuff! Like your value proposition of making payments as easy as sending photos. Look forward to trying this soon.
This app is really revolutionising the way teenagers spend and manage their money
That's great. But what can you tell about its security? There are dozens of apps like that and most of them can't protect you from hacking and stealing your money. That's why we need more payment services with tokenization PCI. If you want to know what is tokenization in payments then follow here at https://www.verygoodsecurity.com/blog/posts/tokenization-and-pci-compliance-everything-you-need-to-know
hutsyhomes