What is Fampay or FamApp?
In today’s tech age, teenagers in India prefer to handle money through mobile apps rather than in cash. The FamPay or FAMApp is a fintech solution designed specifically for young teens ( Age 11 to 18 Years), providing them a safe way to make digital payments. They can track their spending. In a way, they can learn to manage money under parental supervision. There is no need for a regular bank account to use FAMPAY or FAMApp.
FamPay was founded by Sambhav Jain and Kush Taneja in 2019. Handling a cash transaction is tedious for teens. FamPay eliminates the need to handle cash for pocket money. Also, there is no need to open full-blown bank accounts. FAMPAY is now referred to as FAMApp by Trio. It provides users with both a UPI ID and a numberless card. FAMPAY offers teens a medium to real-world financial independence under their parents’ guidance.
Requirements for Opening a Fampay Account
To open a FAMPAY account, you need a government-issued ID and an Indian phone number. An Aadhaar card is mandatory for signing up. The app is available for individuals ages 11 and above.
- Age Limit: You must be 11 years or above to open an account.
- Identification: A government-issued ID is required for verification. The Aadhaar card is mandatory to sign up.
- Phone Number: An Indian phone number is needed to register.
- KYC: You will need to complete a KYC (Know Your Customer) verification process to use the full features of the account.
- Parents’ consent is necessary to open the FAMPAY AC
FamPay Use For?
Teens can use FamPay for various following transactions.
- For online shopping: making purchases through apps or websites using their FamPay UPI or prepaid card.
- UPI transfers: sending/receiving money via UPI ID (where allowed) among friends or family.
- Bill payments and recharges: Mobile-recharge, utility bills, in-app purchases (games, subscriptions), etc.
- Offline/cashless payments at stores: using the numberless FamCard (prepaid) at point-of-sale (POS) or tap-to-pay where accepted.
- Peer-to‐peer transfers among teens (if supported).
By giving teens the tools to handle money under guidance, FamPay allows them to practice real-world money management in a lower-risk environment.
How to Download and Set Up the FamPay App
Here’s a step-by-step guide:
- Go to Google Play Store (for Android) or Apple App Store (for iOS) and search for “FamPay” or “FamApp by Trio: UPI & Card”.
- Tap Install/Download and allow permissions.
- Register with a mobile number and verify via OTP.
- Enter the teen’s details (name, age, date of birth) and link parent/guardian information as required.
- Complete KYC (document upload – Aadhaar/PAN, etc) as per the app’s requirements.
- After verification, activate the FamCard (virtual or physical) and/or UPI ID.
- Parents can fund the account or load money; the teen can start using the card/UPI for payments under the defined limits and guidance.
The link to download FAMApp on Android phone
The link to download FAMApp on Iphone phone
Charges Involved in Using the FamPay App
FAMApp and account costs
- FamPay app: Free to use, with no minimum balance or hidden charges.
- Reloading and fund transfers: There are no fees for reloading money or transferring funds to other FamPay users or bank accounts.
FAMCard costs
- FamCard (Basic physical card): Rs 99 (one-time fee).
- FamCard ME (premium card): Rs 299 (one-time fee).
- Card replacement/revalidation: A fee of Rs 500 (or as per current offers) may apply for replacing or revalidating a card.
Since fees can change, it’s essential to check the app’s “Fees & Charges” section or FAQ before signing up.
FamPay Transaction & Spending Limits
FAMPAY AC for minimum KYC users
- Daily limit: ₹12,500
- Monthly limit: ₹50,000
- Note: This limit requires a government ID but is for accounts with only minimum KYC and not full verification.
FAMPAY AC with full KYC users
- Daily limit: Not explicitly defined
- Monthly limit: Up to ₹1,00,000 per month
- Note: This applies to users who have completed full KYC, including a government ID and PAN card.
Transaction charges of FAMPAY/FAMAPP
The FamApp and FamX Card are generally described as being free of cost, with no hidden charges for standard use.
FamPay Referral Code (If Any)
FamPay offers a “refer-and-earn” program where existing users can share a referral code and both the referrer and the new user can earn rewards. The most reliable way to know the current referral code is to check the app itself.
Please note: Referral bonuses are subject to change and may vary by campaign, age eligibility, and terms. If you plan to use a code, check the “Invite & Earn” section in the app for the latest valid code and terms.
FamPay Helpline & Customer Support Details
If you or your teen needs support with FamPay, here are the contact details:
- Helpline/phone number: +91 8045 888 881 (24×7)
- Email: support@fampay.in or the email listed on the contact page.
- Official website/app: www.fampay.in or www.famapp.in
- In-app “chat” or help ticket system (depending on platform) is also available.
Pros and Cons of Using the FamPay App for Teens
| Pros | Cons |
|---|---|
| Helps to teach financial discipline to teens. | It requires parents’ consent and oversight |
| Regulated by RBI via partner banks | Some services or physical cards may involve a cost |
| No full bank account needed for teens | Limited to India and subject to fintech terms and updates |
| Secure numberless card and UPI | It cannot be used like a credit card. It can be used for what is loaded |
| Fast payments (UPI + card) | Some services or physical cards may incur a cost |
Conclusion
In today’s digital world, digital payments are fast becoming an integral part of life. Teens should start using these digital tools with care and take all necessary safety measures. Introducing it to teens in their early days will make them ready for take on challenges ahead. Teens slowly start using these tools under parental guidance. The FamPay App offers a fintech solution tailored to teens for enabling mobile payments, online/offline purchases, and budgeting under parental supervision. At the same time, it nurtures financial literacy and responsibility from a young age.
However, as with any financial tool, parents and teens need to read the latest terms, including account limits, fees, referral programmes, and regulatory disclosures. By using FamPay responsibly, with clear talks about spending, saving, and oversight, families can empower the next generation for smarter money management.
Frequently Asked Questions about FAMPAY
1. What is FamPay, and who can use it?
FamPay is a payments platform designed for teenagers (aged 11 and above) and their families. It allows users to send and receive money from friends and family via UPI and make digital payments using a prepaid card (FamCard).
- It serves as a smart way for parents to give their kids an allowance digitally and for teens to learn financial management in a secure, controlled environment.
- KYC (Know Your Customer) verification with a government ID is required for all users, as per RBI guidelines. If the user is under 18, they must invite a parent to complete the sign-up process.
2. What is the FamCard, and what makes it secure?
The FamCard (or FamX card) is a prepaid card that can be used for online and offline purchases wherever RuPay cards are accepted in India.
- Numberless Card: The physical FamCard has no card number or CVV printed on it. These details are stored securely within the FamPay app and can only be accessed using the user’s device lock (like fingerprint or Face ID), making it extra secure if the card is lost or stolen.
- The card can also be paused or blocked instantly through the app.
3. Can I use FamCard for international transactions or recurring payments?
No. Currently, FamApp does not support international transactions or recurring transactions (like subscriptions). If there are any future updates to these capabilities, FamPay will notify its users.
4. What are the transaction limits for a FamPay account?
FAMPAY AC for minimum KYC users
- Daily limit: ₹12,500
- Monthly limit: ₹50,000
- Note: This limit requires a government ID but is for accounts with only minimum KYC and not full verification.
FAMPAY AC with full KYC users
- Daily limit: Not explicitly defined
- Monthly limit: Transaction limit is Rs. 1,00,000 per month
- Note: This applies to users who have completed full KYC, including a government ID and PAN card.
5. How can I load money into my FamPay account?
Money can be added to your FamPay account through Net Banking, Debit Card, and/or using any UPI ID. FamPay does not currently allow loading funds through cash or credit cards.
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