Fampay has now become FamApp which is said to be the upgraded version of fampay. So today in this post we gonna compare both Famx Card and Fampay Card.
There are many fintech companies in India like Paytm, PhonePe, Fi Money etc. But the Fampay was the first fintech company which was build for teens. And that is why I’m dicussing this comparison here.
Lets start the post without wasting any time!
What is a Neobank?
Neobanks are financial technology companies that often collaborate with banks to provide federally insured bank accounts.
For example, Fampay is also a neobank for teenager and it was partnered with IDFC First Bank. The Fampay was launched on 2019 by Sambhav Jain.
The neobanks can not be used for international transaction and mostly operated via mobile app.But You can transfer money, pay bills, pay someone and Recharge Sim Card using the help of a neobank.
What is Fampay Card?
Fampay card is a card for teens between 15 and 20. With the help of your pan card or Aadhar Card, you can create a fampay account in 5 minutes. After Signing up, you will be instantly provided with virtual Visa Fampay Card.
You can also get the physical card of it at 199/- from the company. The Card is only valid in India and you can also not be able to do ATM Withdrawal.
In 2023, the fampay card has become FamX Card. The Famx Card has some more features and some disadvantages which we will discuss later.
Before going to the comparison part, lets see the similarities between them.
Fampay Card vs Famx Card – The Similarities
1. Brand Of the Card
From brand of the card, I mean to say it is mastercard card or Visa Card.
But both the cards are visa branded cards. They both are visa platinum card. Nothing has changed
2. Transaction
All the transaction can only be done in India. International transaction is not possible in both cards.
All 99% business in India accept this cards. The cards can be used on Amazon, Big Basket, Flipkart, and many more stores.
Add money system is also same in both cards. You can add money to your Fampay Account with the help of debit/ Credit Card or from any UPI Apps like PhonePe, Gpay, Paytm.
Fampay has one feature like you can transfer money to other Fampay account. The transaction can be done between two fampay accounts. This feature is still there in both the cards.
Some of the transaction feature remains the same. Lets move on to the next factors.
3. Spin And Win Game
The spin and win game also remain same in both the cards. The company allows you to spin the wheel and then win the real cash or any exclusive rewards.
Some of spin and win games are totally free and some can be played by spending Fam Coins.
4. Profile Interference
The profile interference in the Fampay and FamApp apps looks the same. Nothing has changed
In your Profile, you can set profile picture, profile name, profile description, Date of Birth and many more social media links.
5. UPI Payment System
In Fampay, UPI payment was done instantly without giving any UPI Pin. Phone password is the only requirement which is asked during the payment.
So in Famx, UPI payment system is also same. The Scanner of FamApp is also has great design.
6. Support Service
The App name and card is changed but the customer support service is not changed.
7. Rewards And Tickets
All the UPI Apps have a Rewards and tickets section. In this section, you can win various coupon codes and different exclusive rewards
What is Ticket in fampay ?
In Fampay, Ticket is required for participating in the lottery. The winner of the lottery can win exclusive rewards like iphone, PS5, Xbox, MacBook etc.
I remember in first lottery, the prize was play station 5. The winner was from Bangalore and specially Tanmay Bhat came for awarding the winner.
Famx is also doing the same thing. The section is still there in the app.
All the similarities ends here. Lets go to the comparison part.
Fampay Card vs Famx Card – The Difference
1. The UI/UX design
Fampay had a very simple design in their sections. On the other hand, FamApp is just like 3D design of fampay with more additional features.
Both light orange and white color were used on fampay home section. But in FamApp, it has totally a dark theme.
The UI of the FamApp is really good. So FamApp wins in this designing part.
2. Subscription plans
There were no subscription plans on the fampay App.
On the other hand, FamApp has free plan, plus plan and a ultra plan. All the paid plans are like annual fee of the FamX Card.
The Ultra subscription plan is in offer and it is very popular. By spending 499 rupees, ultra plan can be activated for a year.
For more information about the plan, you can check out the app or official website.
3. Partnership Banks
Fampay was partnership with IDFC First Bank. The Fampay card payment of a online store worked the same as the other bank account cards.
Famx Card is partnership with trio and UPI. The Card is only vaild in India.
If you have an old Fampay IDFC account and it has some balance in it. So you can contact the IDFC First Bank for withdrawing your money.
4. Referral programs
Fampay had a referral program in which you can refer the app to your friends and after a friend sign up, you can get money up to 5000 rupees and sure 50 rupees.
FamApp doesnt have any benefits on referring your friends or anybody.
5. Spending limits
In Fampay, there were no spending limits. But one thing was there that you can only have account balance up to ₹ 2 lakhs. So card of fampay also had no spending limits.
FamX Card has spending limits and the limits are according to the subscription plan. Lets talk about the plans
Free Plan: The plan provides you with spending limits of 10000 rupees per month. So yearly spending limits becomes 1.2 lakh rupees.
Plus Plan(₹199/yr): The plan provides you with spending limits of 100000 rupees per month. So yearly spending limits becomes 12 lakh rupees.
Ultra Plan(₹499/yr): The plan provides you with spending limits of 200000 rupees per month. So yearly spending limits becomes 24 lakh rupees.
The annual fee of a card is very less. And the ultra plan has many benefits like you can get good customer service and the FamX card is coming for free.
6. ATM Withdrawals
From Fampay Card, cash withdrawals is easily possible for free.
On the other hand, Famx card charges ₹29 on every ATM withdrawals. No charges are applied in ATM Withdrawals if you have Ultra plan.
For activating the ATM withdrawals on card of FamApp, you have to contact the support service.
7. Custom UPI ID Feature
UPI ID is already provided in other UPI apps. The Custom UPI ID means you can rename your UPI ID so that it look cool. In Fam, you can have custom UPI ID by just spending ₹29. The number in UPI ID can be changed to any name or something.
Fampay card doesn’t has custom UPI ID feature.
8. Card Pricing
I’m telling you I have both the cards. The card of fampay come to me in a nice box and the Famx card come to me in a envelop. You can now see What is the Quality?
Price of the physical Fampay card is ₹199.
Price of the physical FamX card is ₹399.
Conclusion
In conclusion, the Famx card and Fampay card each have distinct features that cater to different user preferences. The Famx card excels in its comprehensive rewards program, offering a wide range of benefits and cashback options for users. With its integration with popular brands and e-commerce platforms, the Famx card enhances the shopping experience and provides ample opportunities to save money.
Thank you for reading this post. Famx card is definitely next-gen card. Apply for the Famx card as soon as possible so that you don’t miss any exclusive offers.