The concept of pocket money is quite ancient and has been going on since our grandparents were kids. However, like everything gets evolved, even the pocket money concept started to evolve and now the evolution stage is at its peak after digitalization kicked in. Digitalization has been with us for a long time now, but the whole COVID-19 pandemic just ended up speeding the process. Due to this, there is now an innovation for transforming the way parents give pocket money to their kids.
Who knew that in this era we would be able to make use of digital cards for teens, which could be used as a means of providing them with their pocket money? This was all possible due to the concept of the digital transformation of pocket money.
Digital Transformation of Pocket Money 💰
Fyp is a digital payment platform for teens, specially designed for the age group of 11-18 years. It is a Gurgaon-based fintech firm that targets teens as well as millennial parents. It aims to make the teens of India financially independent by altering the whole concept of pocket money in an Indian family.
In the pre-launching sign-up for this Gen Z app, the company received an overwhelming response from the target audience as nearly 15,000 people joined the waitlist. With the Fyp app, teens can manage both online and offline transactions. Moreover, the transaction carried through the Fyp app is absolutely safe and secure.
Why One Should Try the Fyp App 👀
The app has some fantastic features like parents can assign a task to their children. With the help of the gamification feature, it aims to teach financial literacy to Gen Zers at an early age, that too, innovatively.
There are also features where teens can earn money through their community. Children can also invest (with their parent’s permission) in their future needs like bikes, college fees, and travelling. Fyp app is built on four strong pillars: saving, earning, investing, and spending. With Fyp, kids will have a basic understanding as well as practical knowledge of finance before they start their first job. The company aims to have 1 million users by the end of this year.
Vision and Mission of Fyp
The experts of the company believe in providing teenagers ‘Financial Freedom’ and to achieve this goal, they want teenagers and parents to start using Fyp. It is the duty of every parent to teach their children the value of money and what better way to do so than using the Fyp app and card?
The journey of Fyp may have just started but it carries a big aim to transform teens’ spending habits. So, what are you waiting for? Download the Fyp app and get started now!