With Paytm launching Pocket Money, a feature that allows teenagers to make UPI payments without having their own bank account; India’s fintech space is once again drawing attention. The feature, built on NPCI’s Circle framework, lets parents authorise and supervise payments while teenagers use UPI for daily transactions such as food, transport, shopping, and school expenses.
The launch also highlights a growing category of fintech apps focused on younger users who are not yet eligible for full banking access. These apps typically combine prepaid wallets or cards with parental controls, spending limits, and financial literacy features.
Here are eight apps and platforms offering similar services for teenagers and minors:
Paytm Pocket Money
Paytm says its new Pocket Money feature enables supervised UPI payments for teenagers without requiring them to open a separate bank account. Parents can assign spending limits, monitor transactions, and revoke access whenever needed. The company positions the feature as a safer way for students and teenagers to access digital payments independently.
FamApp
FamApp (formerly FamPay) is among India’s best-known fintech platforms for teenagers. The startup became popular for offering prepaid cards and digital payments access to minors under parental supervision. It also includes rewards, peer-to-peer transfers, and budgeting tools targeted at users.
Junio
Junio markets itself as a digital pocket money app for children and teens. Parents can load money into the app, set limits, and monitor expenses, while kids use prepaid cards and app-based payments for everyday spending and online purchases.
Walrus
Walrus targets younger users with prepaid cards, cashback rewards, and money management tools. The platform focuses heavily on students and Gen Z consumers looking for options before opening traditional bank accounts.
Akudo
Akudo combines prepaid cards, expense tracking, and financial literacy features aimed at teenagers. The app allows parents to supervise spending while helping children learn budgeting and money management skills through gamified tools.
GoHenry
UK- and US-based GoHenry offers debit cards and money management tools for children and teenagers. Parents can automate allowances, track spending activity, assign chores, and create savings goals through the platform.
Greenlight
Greenlight is another global platform focused on teenagers and young users. It combines debit cards with parental controls, savings features, and even beginner investing tools designed to introduce financial literacy at an early age.
Step
US-based Step offers teens a supervised spending account and payment card experience. The app gained popularity for giving younger users access to digital payments and budgeting features before they become eligible for standard banking products.
The rise of these apps reflects how fintech companies are increasingly targeting younger consumers who are growing up in a digital payments-first economy. For many startups, teen-focused payments are also seen as a long-term customer acquisition strategy, helping companies build loyalty early while introducing users to broader financial products later in life.