What is Fampay?-how to create an Account on Fampay?

this is first neoBank for teen ager

What is Fampay?-how to create an Account on Fampay?

 

Here we give you complete details about fame pay, and how you create an account on fampay?

Don’t worry you just read this article. here also we give you different article details,you also check those topics

What is fampay?:-

Fampay is online bank it is much similar like phone pay, Google pay but they have some unique feature.it is specially med for teen ager who’s are age of 13 to 18 ages.

FamCard is a numberless card, all the card details are saved on the FamPay app and there is no need to refer to the physical card to fill in details during online transactions. If in any case card gets stolen, there’s no fear as the card can be paused, blocked, and managed at fingertips on the app. What is Fampay?-how to create an Account on Fampay?

The numberless card will give cashless convenience to millions of teens and their parents. Minors can also pay online/offline by using FamCard as it doesn’t require any bank account.

Every transaction is protected with device locks like a fingerprint, Face ID, pattern lock, or PIN.

The numberless card can be ordered once the account is set up on the app, after both the parent and teen complete their KYC online. FamPay app is available for both Android and iOS on the Google Play Store and Apple Store respectively. The FamCard is an innovative consumer solution for India’s Gen-next population.

FamPay, a neo-bank for teenager’s aims to bring cashless convenience to teens and their parents.it have numberless card – FamCard. It’s like a debit card that teenagers can use to make payments. Fampay funded on 2019. FamPay was started by two IIT Roorkee graduates Kush Taneja and Sambhav Jain. They are do very hard work for this.

In March 2020 FamPay raised $4.7 million in seed funding from Y Combinator, Venture Highway, Sequoia India, Global Founders Capital and angel investors including Kunal Shah, founder of CRED. In an e-mail interview FamPay co-founders Kush Taneja and Sambhav Jain discuss the FamPay model, its relevance for teenagers and more. What is Fampay?-how to create an Account on Fampay?

 

Why i use fampay?

What is Fampay?-how to create an Account on Fampay?

You are known all are switch to online in all platforms. Online transaction is much batter and essay then offline transaction. Before 10 or 15 teen years ago major people don’t use and don’t fell secure. But now days all are online and most of the people use online platforms and all are known about online transaction also.

Today’s teens are digitally savvy, having grown up with technology as a mainstay in their day-to-day lives but so far have not had a digital payments solution to go cashless. This is the not so good for cashless transaction. A recent RBI report quoted a 23 percent rise in transactions per person and 87 digital payments apps in play. None of these apps, however, include the pre-banked segment of teenagers in the digital payments ecosystem. What is Fampay?-how to create an Account on Fampay?

There are an estimated 250 million+ teenagers in India in the 12-18 years age group of which 20 million have smartphones. They are still reliant on getting cash for their expenses from their parents.

Another problem with cash use is that parents do not have any visibility into the expenses made by their child. With FamPay and its numberless card, minors can finally make online (UPI & P2P) and offline payments without the need to set up a bank account. What is Fampay?-how to create an Account on Fampay?

Parents can send money to their kids on the app, with control and supervision over the amount of money the teens spend. In addition to the card, teens get their own unique UPI ID with which they get first-hand access to the growing UPI Payments network.

Whats make it different?

First it has a no physical card required if you really want physical card you also get this.

Second is physical card having no number, because all number, details and control have in your phone

Third is you also use fam pool, one account many people have assess.

Fourth most important feature is flash pin option. This is very important and one of good feature.

Basically this is a feature when you use physical card and use pin code for transaction you get pin from your phone, that is one time pin code for your transaction. I you do another transaction you should generate the pin code for this transaction.

Fifth parents can enable fampay account for teenagers to provide and monitor spends.

Six ‘teenagers do not need a bank account or parents cards for digital transaction

You can use the IDFC first Bank fampay card at all you favorite online and offline stores.

Fampay security

  • All your cards are issued by IDFC FIRST Bank and are operated on the Rupay network
  • Every transaction is protected with device look like fingerprints, face ID, pattern lock or PIN
  • Block, pause or change pin of the card at your fingertips, Anytime, any where
  • Our help center is available 24×7 Chat with IDFC customer care support whenever you need them

If you really want to use this app you just follow those steps to create a account,What is Fampay?-how to create an Account on Fampay?

How create an Account on Fampay?

  1. You just go to Google play store and install fam pay app and after complete install process you simply open it.
  2. Then you skip those banner and give your phone number and you get OTP via SMS, submit it
  3. After that you have card on your mobile screen and you press continue button, then fill up your first and last name also give your date of birth. Submit it
  4. You should give permission for location and contact and if you want whatSapp notification you simply tick this option. Tap on grant permission
  5. Next step you just click on active option. And after that you fill your ADHER Card number and you got OTP on ADHER card linked number. Then submit the OTP what you get.

If you’re ADHER cards have no phone number like you simply choose the minimum KYC option and go these options

  1. Finally your account is setup

What is Fampay?-how to create an Account on Fampay?

How you add money on Fampay?

What is Fampay?-how to create an Account on Fampay?

You just click the add money option and for add money you choose many methods like credit card,debit card,UPI and net Banking

Choose one option and fill required details for you transaction

This is the simple way I explain you, for batter know you just see this video. Check this link

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2 Replies to “What is Fampay?-how to create an Account on Fampay?

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