Amazon Quiz: Which is India’s first numberless card for teenagers?

Amazon Quiz: Which is India’s first numberless card for teenagers?

Options:

1. OneCard

2. FamPay

3. UniCard

4. StudCard

Answer: FamPay

FamPay, cofounded by Taneja and Jain, allows teens in India to conduct cashless transactions by providing them with prepaid debit cards without the need to open a bank account. The FamCard, which was developed in collaboration with India’s IDFC First Bank, accepts money placed by parents and allows them to monitor spending. Last year, the 2019 business received $4.7 million in venture investment from Y Combinator, Venture Highway, and Sequoia India.

During the pandemic, FamPay gained remarkable traction, with 1.35 million users by the end of the first quarter of 2021, and 3.8 million transactions in the April-June period, up from 48,070 in the third quarter of 2020 – a staggering 7,897% increase.

In May of this year, the Bengaluru-based firm, established by IIT Roorkee alumni, released virtual Visa cards, which were quickly embraced by more than two lakh customers. The Visa numberless card will be available in two versions: the FamCard, which has no personalization possibilities, and the FamCard Me, which does.

The other questions in the Quiz are:

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