FamPay
India's teen payments app.
- Who holds it
- A sponsor bank behind the brand — not the app you signed up with — Partner bank (IDFC FIRST Bank) — co-branded RBI prepaid payment instruments; RuPay/Visa cards.
- The ledger
- Split between a program manager and the sponsor bank — the modular setup that broke in Synapse.
- If it fails
- Any claim runs through the sponsor bank, and only works if the two ledgers reconcile.
Derived from FamPay’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · gen z & students |
| HQ | Bengaluru, IN |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Partner-bank model |
| License detail | Partner bank (IDFC FIRST Bank) — co-branded RBI prepaid payment instruments; RuPay/Visa cards |
| Card | RuPay · Prepaid |
| Cashback | Rewards |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Asia |
| Countries | India |
| Founders | Sambhav Jain, Kush Taneja |
| Funding | ~$42M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @FamPayHQ ↗
Common questions about FamPay
What is FamPay?
FamPay is a fiat neobank built for gen z & students, headquartered in Bengaluru, IN and founded in 2019. Your money is held custodially, so FamPay or its partner bank holds the balance and you hold a claim on it. It operates on a partner-bank model (Partner bank (IDFC FIRST Bank) — co-branded RBI prepaid payment instruments; RuPay/Visa cards).
Does FamPay have a card, and where can you use it?
It issues a RuPay prepaid card. It is available in Asia.
Does FamPay require KYC?
Yes. FamPay requires identity verification (KYC) to open an account, as a partner-bank model.
What does FamPay cost?
From the verified fields: cashback Rewards. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with FamPay before relying on them.
Early investors
Peers
Wise · KakaoBank · WeBank · bKash · Maya · GCash
FamPay appears in
Neobanks running on someone else’s banking license (81) · Neobanks available in Asia (132) · Neobanks for gen z and students (8) · Neobanks on domestic card networks (16) · Neobanks in India (12)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.