FamPay is a payment app in India. The unique thing about this is that even children under 18 years old can use this.
Let’s dive into this article to find out how safe FamPay is and how to use FamPay!
Is Fampay Safe?
FamPay is a secure method of transferring funds. FamPay takes the safety and security of users very seriously.
Some of the security measures taken by FamPay to ensure transparency are as follows:
- RBI Regulated Service
- This point is enough to understand that FamPay is a safe platform because it is regulated by the Reserve Bank of India (RBI).
- IDFC FIRST Bank Account
- Young teenage users can avail the benefits of the FamPay payment service even without a bank account. Once you register on FamPay automatically your account is created on IDFC FIRST Bank.
- Trusted by Renowned Names
- FamPay is powered by famous and trustworthy names in the financial industry such as:
- Two-Factor Authentication
FamPay asks for two-factor authentication for every transaction which makes the funds transferring process safe.
- Data Encryption
All the data is encrypted during the money transfer process to keep the financial information secure from any danger.
- Customer Support
FamPay offers 24/7 customer support service. Users can get in touch with the customer service representative in case of any problem.
- Parental Oversight
Since FamPay offers a unique feature to facilitate teenagers it permits parents to check all the transactions and set a budget cap on their account.
How to Use FamPay Complete Guide
Now you know the tight security standards of Fampay. The next question that comes to mind is “How to use a Fampay?”
A step-by-step guide about the complete procedure of using FamPay is mentioned below:
- Download the FamPay app from Google Play or Apple Store
- Once the installation process is finished open the app on your device and click on the “Get Started” option
- Enter your phone number and click on “Continue” to initiate the registration procedure
- Write the “Confirmation Code” sent on your phone and click on “Submit”
- Write all the required details and Voila! Your FamPay account has been created with its unique card number.
- Click on the “Add Money” option
- Select the payment method and amount and press “Submit”
- Once the money is transferred you can use your FamPay for your payments
FamPay Complete Guide FAQs
Frequently asked questions (FAQs) about Is FamPay Safe How to Use FamPay Complete Guide  are as follows:
Q1. Is FamPay safe?
Ans. FamPay is a 100% safe method to transfer funds online or in the shop.
Q2. How do I put money on FamPay?
Ans. Users get a UPI ID after registering on FamPay. Your family can send money using that ID.
Another way is to click on the “Add Money” option then write the payment method and click on “Confirm”.
Q3. Is FamPay approved by RBI?
Ans. FamPay is approved and regulated by the Reserve Bank of India.
Q4. Can FamPay cards be used in ATMs?
Ans. FamPay Cards can be used to withdraw money from ATMs.
Q5. Can I use FamPay after 18?
Ans. Yes, FamPay can be used by people above 18 years of age by providing their PAN number.
Q6. Does FamPay need a bank account?
Ans. FamPay offers a unique feature where users can utilize the payment service even without a bank account.
FamPay is a digital way of transferring money without a bank account. It is specifically made for young adults to learn good financial behavior.