Every transaction using the numberless card is protected with device locks like fingerprint, Face ID, pattern lock or PIN.
FamPay, India’s first Neobank for teenagers that brings cashless convenience to millions of teens and their parents, today announced the launch of India’s first numberless card – FamCard. FamCard is just like a debit card that teenagers can now use to make payments independently, relieving parents of the trouble of giving them physical cash or their debit/credit card.
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. Every transaction is protected with device locks like fingerprint, Face ID, pattern lock or PIN.
As FamCard has no numbers, 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. There’s no fear of card information getting disclosed in case it gets stolen or lost and the card can be paused, blocked and managed at fingertips on the app.
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.
UPI allows users to transfer money safely and securely on a real-time basis, across multiple bank accounts making it the most prominent form of digital payments.
FamPay worked with NPCI to make this ‘first in India’ numberless card a reality. They pioneered to solve the complex backend supply chain which had to be reimagined and reconfigured. This card has been launched in partnership with IDFC Bank and is accepted across the RuPay payment network of merchants. RuPay, the first-of-its-kind India’s domestic Debit and Credit payment network, was launched by National Payments Corporation of India (NPCI).