India’s first Numberless card

EDITOR: FamPay, a mobile bank for teenagers that brings cashless convenience to millions of teens and their parents, has announced the launch of India’s first numberless card - FamCard. It claims FamCard is just like a debit card that teenagers can 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 now 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 claims the venture.

BENEFITS

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. Also, there is no fear of card information getting disclosed in case it gets stolen or lost and the card can be paused, blocked managed at fingertips on the app. FamCard has a special feature of “Flash PIN”, which is dynamic and is generated for every transaction.Teens can just flash this PIN to the cashier for offline payments, without the need of entering the PIN by themselves on the POS machines.

IDFC BANK & RUPAY

Launched in partnership with IDFC Bank, FamCard is accepted across the RuPay payment network of merchants. RuPay is first-of-its-kind India’s domestic Debit and Credit payment network that was launched by National Payments Corporation of India. Available for both Android and iOS on the Google Play Store and Apple Store respectively,The numberless card can be ordered once the account is set up on the app.