Bengaluru-based teen-focussed payments platform FamPay today announced the collaboration with card issuer Visa Inc to launch numberless, prepaid cards for teenagers. These personalized doodle cards will enable the teens to make NFC-powered payments, available in two different designs - the FamCard and FamCard Me.
Teens can also use the FamCard and the FamPay App to make online and offline payments. The personalization doodling on the card will be based on their names, designs, games which will reflect the teen's personality, the company said in a blog post.
Speaking on the development, Kush Taneja, Co-founder of FamPay, said, "After launching India's first numberless card, we decided to up our game in terms of innovation and personalization. Our new series of FamCards powered by Visa would be the most rewarding, sleek, and secure cards in the market for teens."
Teens can now order the FamCard after creating an account on the FamPay app. In addition to being doodled and personalized, FamCard Me provides its teen users with exclusive offers and subscriptions, the details of which can be found at famcard.me.
They can even use their virtual FamCard to make online payments right away while they wait for their physical cards to arrive.
FamCard Me, India's first doodle card, represents yet another innovation in the fintech and card industries that resemblance creativity, supports teenagers, and advancement in the finance sector.
TR Ramachandran, Group Country Manager, India, and South Asia, Visa said, “We are delighted to partner with FamPay as they seek to innovatively solve for digital payments for young adults and teenagers who are digital natives, adept at using novel payment methods with ease. These youngsters today are seeking user experiences that are unique and personalized, with card products they can identify with. FamCard Me caters to this growing segment of discerning consumers and we see strong potential in the Indian market. These innovative, numberless payment cards with personalized doodles will appeal to a generation that is seeking the best of innovation and convenience for its payment experience.”
It will also be Visa's first venture into numberless cards. Teens can create unique designs on their FamCard Me from the collection of 200+ doodles and signature fonts. They will also have the option to put any name on the card, making it their own design and card.
“We’ve had a user-first approach since day one. Our team is closely connected with our teen community to understand their lifestyle and what they love the most. As GenZs are super unique and quirky - we wanted them to express their story through their card and hence chose doodles. We are calling it the FamCard "Me" as it's not just personalized, it is their personality.”, said Sambav Jain FamPay co-founder on why FamPay chose doodles for their new FamCard Me.
The card also offers 4x rewards on every purchase, free subscriptions to popular teen brands, and exclusive VISA offers.
FamPay has pledged a meal for a child for every card sold in collaboration with Feeding India by Zomato. They have also partnered with the Give India Foundation to donate a portion of the proceeds from each card sold to Covid-19 relief campaigns.
FamPay is India's first online and offline card payment system designed specifically for teenagers in 2019. Minors can make online and offline payments with FamPay and its numberless prepaid card without the need to open a bank account. FamPay is an IDFC FIRST Bank Prepaid Card marketing and distribution partner.
reached 2 million registered users within 8 months of its launch and recently raised a $38 million Series A funding round led by Elevation Capital and Sequoia Capital.
Founded by IIT Roorkee graduates, it first launched virtual Visa cards in May of this year, with over two lakh users adopting this card facility.