Paytm enters teen wallet race with Pocket Money on UPI Circle
Paytm has launched Pocket Money, a supervised UPI feature built on NPCI's UPI Circle framework, allowing teenagers to transact without their own bank accounts under parental controls. The move pits Paytm against FamApp, Junio, Walrus and Akudo as fintechs chase Indian teens for early customer acquisition.
Paytm launched Pocket Money, a supervised UPI feature on NPCI's UPI Circle framework letting teenagers transact without bank accounts under parental controls. Competes with FamApp, Junio, Walrus, Akudo as fintechs target Indian teens for early customer acquisition.
Why this matters
Paytm's domestic teen-banking push contrasts with its recent overseas expansion, including a €9M capital injection into its Luxembourg arm to fund European payments operations.
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