Zeta, India’s leading banking tech company, today announced that its embeddable banking API-based platform called ‘Fusion’ will power FamPay’s neo banking solution for Gen Z.
FamPay, India’s first neobank for teenagers, enables its prebanked segment of users to pay online and offline through their own UPI ID and a numberless prepaid card. The company will integrate Fusion’s card issuance capability and dynamic PIN solution to offer Indian teens effortless and delightful payments experience. The dynamic ‘Super PIN’ which is part of Zeta’s Access Control Server offering will now offer unmatched security to customers.
Fusion through its API-based platform offers all the capabilities needed for a fintech to build financial products easily.
Speaking about the association, Murali Nair, President-Banking at Zeta said, “We are excited to partner with FamPay and look forward to supporting them in redefining the payments landscape for the GenZ segment. The banking ecosystem is fairly complex and building a compliant and secure financial product can be quite time-consuming. But with Fusion’s embeddable banking solution, FamPay can go to market faster with innovative features and world-class user interface and user experience.”
“Our numberless card is already popular amongst Gen Z teens and we have received an amazing response from them. We have taken two further steps in innovation and security with the Flash PIN feature, which will be powered by Zeta Fusion’s Super PIN, enabling a truly painless, contactless and secure experience for our users in this new normal,” says Kush Taneja, Co-Founder, FamPay.
“When it comes to the pre-banked segment of teens, we have an added responsibility of mentoring our users on payments safety and security, since it’s the first time that they are using digital payments all by themselves. While our focus remains on providing them with the best of digital payments and financial literacy, along with maintaining the GenZ vibe, Zeta is helping us take care of the heavy-lifting in terms of payments and security,” said Sambhav Jain, Co-Founder, FamPay.