Teenager Focussed Banking Gaining Momentum in India, Walrus, and Junio the latest entrants.
GenZ focussed banking and payments space is gaining momentum in India, Walrus a Bangalore based neo card startup launched prepaid card partnering with Visa Signature and RBL Bank.
The card is focussed on GenZ teenagers and comes with UPI, zero fees, personalized signature on the card as key differentiating features.
For the Signature Card, Walrus has collaborated with fintech company Zeta and IDEMIA, the global leader in augmented identity and leading payment cards technology company. Walrus is amongst the first few Asian neobanks to be part of IDEMIA’s Fintech Accelerator Program.
Walrus is founded by Bhagaban Behera an IIT Kharagpur alumni, he has worked for Barclays Singapore earlier.
Apart from Walrus, the teenage banking sector will also see the entry of Junio a kids focussed fintech startup
Junio is founded by Shankar Nath and Ankit Gera both of them worked together at Paytm as CMO and Head of Growth respectively. Shankar Nath has rich experience in the finance sector, Passing out of IIM Ahmedabad he has worked in Citi, Aviva, and Icici Lombard.
Ankit also has an amazing pedigree, passing out of IIT Kanpur, He joined Google Australia and worked there in the Youtube division.
The thing which sets Junio apart from other competition is it's completely bootstrapped and self-funded.
Earlier this month we covered Fampay which competes Junio and Walrus in the same space, We think that the competition in teenage banking will turn fierce between new entrants Junio and Walrus and already present Sequoia-backed Fampay.