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Ankit Gaira, who works in Paytm, left the job and made Junio app, parents and children like
Junio app co-founder Ankit Gara
New Delhi. We are using Paytm, Google Pay, Amazon Pay to all UPI. His popularity has increased in the era of Corona. But when the question is to pay the expenses of children, then that cash is given. Ankit Gera understood this problem.
Amidst the lockdown in Korona epidemic, Ankit got the habit of starting online transactions in children through Junio app (Junio). It was an app in which children can spend online, but the power of payment was with the parents. For every transaction, only OTP parents had to be put. News18 spoke to Junio app co-founder Ankit Gaira. Here is a selected part of the conversation with him.
If you get a chance once a year, if you want to earn money, then do this work immediately
Question: How did unique concepts like smart cards come to the minds of founders for children’s pocket money?
answer : Many online transactions were being started by the children, but the power to pay was with the parents. The children did not have a dedicated means of paying and parents did not have the necessary tool to pay money by keeping tension free while monitoring their children for digital transactions. All these things helped us bring this kind of concept.
Question: How does it work?
answer : In simple words, junios are a way for parents to give pocket money digitally to their children. For children, there are many payment equipment like card, UPI, QR code scanner, etc., which can be used in both online and offline methods. Parents can order a card on the Junio app by giving a subscription fee of Rs 99. Junio is similar to the card, debit card and works like that, but without the hassle of opening a bank account. This can be recharged by parents.
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Question: How is the journey from creating this idea to launch it now?
answer : Junio was conceived in October 2020 as an idea. A few months later, we launched it in March (2021). We understood that such a concept was always needed as a junior. Meanwhile, the change in Kovid’s behavior further increased this demand. We believe that apart from e-learning and gaming, the idea of owning his own payment and transaction will come to the child’s mind in future.
Question: How can financial literacy (financial literacy) be brought to children through Junio like Fintech?
answer : Our platform focuses on financial literacy, basic concept of earning and managing it. Parents can give domestic work to the children on the app and on completing it, they can give some money to the children. Junio app promotes inter activity and teaches children the origin of money so that they understand how difficult it is to earn. It is important that children are taught good financial behavior a little quickly.
Question: What challenges and opportunities have come in the last one year?
answer : Digital has expanded considerably during the epidemic and has become the most common method for transactions. Just as demonetisation insisted people to make digital payments on a large scale, similarly the epidemic has promoted Edtech, online shopping and even large -scale transactions. Generation Z, which was always more tilted towards digital, has become more digital during the last 12 months.
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Question: What could be the future of Fintech for children?
answer : Fintech’s future for children is promising. At the initial level, when children learn their finance as well as other simple and essential banking tasks, it gives them a good start and also prepares them for the future. On the commercial side, more and more digitally aware children make fintech children an important promise. It is currently like Greenfield. Apart from this, the investor is more interested in this and provides more help for the development, distribution and marketing of additional funding products.
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Question: What did you learn from Paytm?
answer : In Paytm, we came to know that there is great power in cooperation. We worked on consumer campaigning in collaboration with more than 100 brands as Paytm Cash Redumption. This is a win for all, not the game of zero zodiac. The biggest advantage of being part of Paytm’s journey is that we have seen someone in the nearby quarters on a large scale. Until someone is part of this journey, he cannot even imagine that scale. We have seen development and have seen how a brand name can be taken as an example, such as Paytm or Google. For this, many elements need to come together such as branding, development, technology and relationship. But he still does not guarantee success. For the same input, sometimes outputs can be extremely different. But what it does to make obstacles better for us. A previous experience helps us to see opportunities that may be big in future. Another important learning from Paytm is that there is no option of strong technology and product. Uptime plays an important role and the success rate of transactions should be close to 100 percent. Either, users will leave it.
April 20, 2021, 06:03 IST