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Prepaid cards to small loans, fintechs tap the young to power business

Startups like FamPay and Slice are coming up with products tailored for students and young professionals. Can they get these consumers to stick around and expand their product suite as they grow up?

August 26, 2020 / 12:42 PM IST
Representative image

Representative image

Catch them young and make them stay seems to be the mantra for a bunch of startups that are offering financial products aimed at students and professionals who are just starting out.

Prepaid cards, small loans and apps offering discounts to students for streaming platforms—these fintechs are pulling all stops to make loyal customers out of youngsters who find it difficult to get what they need from banks and non-banking financial companies.

Going cashless

For students who want to shop online, the only way is through their parents’ cards or cash from their pocket money.