This app provides a numberless card, which is known as FamCard. It offers cashless facility to children. It is a debit card which can be used by minors to make online (UPI and peer2peer) and offline payments without having a bank account. There is no number on the card, so there is no fear in case it is stolen or lost. If it is stolen, the card can be locked and blocked through the app. Parents can send money to their kids on the app and control the amount they spend.
Junio is a smart card and app for kids that allows children under 18 to shop online and offline. The child’s bank account is not required to use this card. Parents can set limits on online spending and cash withdrawals from ATMs, so that children can spend only the amount loaded on the card. The app also gives real-time notifications when the child uses the card and you can track the spending. You can even create in-app tasks for them and reward kids as extra pocket money. It teaches kids lessons about money management, savings, interest and compound interest.
It is a reloadable prepaid Visa card linked to the mobile app, which allows parents to pay monthly expenses to their children. Available on Android and iOS, the app helps parents transfer money instantly, create budgets, set transaction limits, analyze child spending, set alerts and daily spending limits. Parents can add a maximum of Rs 10,000 per month to the Slonkit card. If the card is lost or stolen, it can be turned off in one click.
Like Famppay, FYP is a payment app and a numberless prepaid card for teenagers, through which they can make online and offline payments without opening a bank account. This is India’s first holographic card. It works in collaboration with Yes Bank and Visa and aims to help teenagers learn money management. Kishor can complete the onboarding process for KYC with the help of Aadhar card. Parents can track child’s spending on FYP.
Pencilton offers virtual and physical RuPay debit cards to help teens and students manage their spending while learning money management. The app lets parents track kids’ expenses and teach them money skills as well as give them pocket money. With this app parents can also post activities like finishing homework, which can help kids earn more. In addition, Pencilton Piggy Bank and Pencilton Tasks & Badges help children develop good financial habits.