जूनियो एप के को-फाउंडर अंकित गैरा

App made to give children online instead of pocket money in Corona, now millions of users

New Delhi. We use all UPIs from Paytm, Google Pay, Amazon Pay. Their popularity has increased in the age of Corona. But if the question is about the children’s expenses, then that money is given. Ankit Gera understood this problem. Amid the lockdown in the Corona epidemic, Ankit got into the habit of initiating online transactions with children through the Junio ​​app.


This was an app where kids can spend money online, but parents had the power to pay. Only the OTP parents had to enter for each transaction. News18 spoke with Ankit Gaira, the co-founder of the Junio ​​app. Present selected parts of the conversation with him.


Once a year you get the chance, if you want to make money, do it right away Question: How did the unique concept, such as a smart card for children’s pocket money, get to the founders? answer


: Many online transactions were initiated by the children, but the parents had the power to pay. Children did not have special means of payment and parents did not have the necessary equipment to pay their children voltage-free by checking them for digital transactions. All these things helped us to create such a concept. Question: how does it work?
answer : In simple terms, Junio ​​is a way for parents to give digital pocket money to their children. For children, there are many payment tools such as card, UPI, QR code scanner, etc., which can be used both online and offline. Parents can order the card through the Junio ​​app by paying a subscription of 99 rupees. The Junio ​​card resembles a debit card and works the same way, but without the hassle of opening a bank account. It can be charged by parents.


Also read: Indian companies give jobs on this formula, they know how to get a good job Question: How did the journey go from conceiving this idea to launching it now? answer :


Junio ​​was conceived as an idea in October 2020. We launched it a few months later, in March (2021). We understood that such concepts were always needed as juniors. Meanwhile, Kovid’s change in behavior has further increased this demand. We believe that in addition to e-learning and gaming, the idea of ​​owning your own payments and transactions will come to the child in the future.


Question: How can financial literacy be imparted to children through fintech like Junio? answer :


Our platform focuses on the basic concepts of financial literacy, making money and managing. Parents can give housework to children through the app and after filling out they can give some money to the children. The Junio ​​app also teaches kids the basics of money by promoting interactivity so they understand how hard it is to make money. It is important that children learn good financial behavior early on.


Question: What are the challenges and opportunities in the past year? answer :


During the epidemic, digital has expanded enormously and has become the most widely used method of transactions. Just as demonetization prompted people to make digital payments on a large scale, the epidemic has led to edtech, online shopping, and even mass transactions. Generation Z, which has always leaned more towards digital, has become more digital in the last 12 months.


Also read: Impact of lockdown: weak Macrotech listing, listed shares with 10% discount Question: What could be the future of fintech for kids? answer :


The future of fintech for kids is very promising. In the early stages, when the children learn their simple and necessary banking tasks and plan their finances, it gives them a good start and also prepares them for the future. On the business side, fintech makes a major promise to kids by bringing more and more digitally aware kids. It’s like a greenfield right now. In addition, there is more investor interest and additional financing provides more help with the development, distribution and marketing of the product.


Also read: Commodity market can make a lot of money in the Corona era, know the reason Question: What have you learned from Paytm? answer :


At Paytm we discovered that there is great strength in collaboration. We worked on consumer promotions in partnership with over 100 brands in the form of cash payment via Paytm. This is a win for everyone, not a zero-sum game.


The biggest advantage of being a part of Paytm Journey is that we have seen a large scale up close. Unless someone is part of this journey, they can’t even imagine the scale. We have seen the development and how a brand name can be taken as an example, such as Paytm or Google. For this many elements must come together such as branding, development, technology and relationships. But they still don’t guarantee success. For a single input, the output can sometimes be very different.


But what it does are obstacles to getting better for us. Previous experience helps us to see opportunities that could potentially increase in the future. Another important lesson from Paytm is that there is no substitute for robust technology and products. Uptime plays an important role and the conversion rate of transactions should be close to 100 percent. Otherwise, users will leave it.

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