Skip to content
barcoder

Wallets/famapp

FamApp by Trio (formerly FamPay)

0 standards supported

Overview

FamApp by Trio, formerly FamPay, is an Indian prepaid wallet and UPI app that began as a payment app for teenagers. Its FAQ calls it "not a neo-bank, but a prepaid payment platform": users load money into the FamX wallet and pay with UPI or a RuPay card [2](https://www.triotech.co.in/faqs/). The wallet is issued by Tri O Tech Solutions Private Limited, which the RBI lists as an authorised prepaid payment instrument (PPI) issuer [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043), and NPCI lists "FamApp by Trio" with the handle @fam among UPI PPI applications [4](https://www.npci.org.in/product/upi/all-members). The site says it is "Trusted by 2 Cr+ users" (20 million or more, read 22 Oct 2026) [1](https://www.famapp.in/).

History

  • 2019. FamPay was founded in Bengaluru, according to Inc42's company database [13](https://inc42.com/company/fampay/). Its founders, Sambhav Jain and Kush Taneja, graduated from IIT Roorkee in 2019 [6](https://techcrunch.com/2021/06/15/fampay-a-fintech-aimed-at-teens-in-india-raises-38-million/).
  • March 2020. The iOS app was first released on 11 March 2020 [11](https://itunes.apple.com/lookup?id=1499806454&country=in).
  • June 2021. FamPay raised a $38 million Series A led by Elevation Capital, bringing its total to $42.7 million. TechCrunch said it had over 2 million registered users and called its card "the only numberless card of its kind in the country" [6](https://techcrunch.com/2021/06/15/fampay-a-fintech-aimed-at-teens-in-india-raises-38-million/).
  • February–March 2023. IDFC FIRST Bank ended its role as FamPay's payments partner in February 2023, and in March 2023 FamPay pivoted to a UPI-focused app [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/).
  • June–July 2023. After an RBI direction that stopped UPI on co-branded PPI arrangements, Entrackr reported that FamPay's UPI kept running. FamPay had entered "a co-branded agreement" with Tri O Tech to issue wallets; Tri O Tech then updated its terms to say the app is hosted by it as a "licenced PPI Payments Issuer" [7](https://entrackr.com/2023/07/fampay-cheq-continue-upi-service-are-they-bypassing-rbi-directive/).
  • August 2024. Entrackr reported that FamPay had lent Pehe Limited Rs 55 crore, unsecured, to acquire Tri O Tech Solution Private Limited and its PPI licence [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/).
  • September 2024. The group launched Namaspay, a separate UPI app for foreign travellers in India [9](https://entrackr.com/2024/09/exclusive-fampay-launches-upi-app-namaspay-for-foreign-travelers-in-india/).
  • June 2025. Entrackr reported a planned $15 million round led by Elevation Capital, mostly secondary, with investors expected to buy co-founder Kush Taneja's stake [10](https://entrackr.com/exclusive/exclusive-famapps-turnaround-with-profitability-new-round-and-co-founder-exit-9366444).

Ownership & operator

Two companies sit behind the app:

  • Tri O Tech Solutions Private Limited (CIN U74140DL2009PTC186516) was incorporated on 9 January 2009, with its registered office in New Delhi. Its annual return for FY 2024-25 names PEHE PRIVATE LIMITED as its holding company with 100% of the shares [5](https://triotech-website.famapp.co.in/VFRfQW5udWFsIFJldHVybiBGWSAyMDI0LTI1.pdf). The RBI's list of authorised payment system operators shows it with a PPI authorisation dated 18.01.2017 [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043). That authorisation predates FamPay; in August 2024 Entrackr reported that FamPay had financed the purchase of Tri O Tech through a loan to Pehe [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/).
  • The FamPay company. Inc42 names it Fampay Solutions Private Limited, based in Bengaluru [13](https://inc42.com/company/fampay/). Entrackr reported that the co-founders are listed as owners of Pehe in regulatory filings, and that Pehe owns Namaspay through Tri O Tech [9](https://entrackr.com/2024/09/exclusive-fampay-launches-upi-app-namaspay-for-foreign-travelers-in-india/).

Investors. Elevation Capital led the 2021 Series A, with General Catalyst, Rocketship VC and Greenoaks; existing investors Sequoia Capital India, Y Combinator, Global Founders Capital and Venture Highway also took part [6](https://techcrunch.com/2021/06/15/fampay-a-fintech-aimed-at-teens-in-india-raises-38-million/). Entrackr gives the total raised as $48 million in August 2024 [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/) and $42.7 million in June 2025 [10](https://entrackr.com/exclusive/exclusive-famapps-turnaround-with-profitability-new-round-and-co-founder-exit-9366444).

Regulation. As a non-bank PPI issuer, Tri O Tech is supervised by the RBI [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043). Its regulatory page links the RBI Integrated Ombudsman Scheme, 2026, and its annual returns [14](https://www.triotech.co.in/regulatory/).

Technical integration

  • UPI QR (full). The app gives each user a UPI ID and a QR code; the FamX wallet can be topped up by showing the QR or sharing the UPI ID with a sender [2](https://www.triotech.co.in/faqs/). NPCI lists the app among UPI PPI applications with the handle @fam [4](https://www.npci.org.in/product/upi/all-members). See UPI QR in India.
  • Two ways to pay. Besides the wallet, users can link a bank account "like you do on GPay" (the FAQ calls this T-PAP) and pay from either. Bank-linked payments get a separate QR code from the wallet's [2](https://www.triotech.co.in/faqs/).
  • UPI features. UPI numbers (up to 3 per UPI ID, the phone number or any 8–10 digit ID), UPI AutoPay (mandates under INR 5,000 run without a PIN prompt), and bank transfers by IFSC and account number [2](https://www.triotech.co.in/faqs/).
  • Card. The FamX card is a RuPay card with a virtual version and an optional physical card for INR 249. Tap-and-pay limits can be set up to INR 2,000. The FAQ says the card does not support international or recurring transactions [2](https://www.triotech.co.in/faqs/).
  • KYC. An Aadhaar card in the user's own name is mandatory; a parent's documents can't be used. PAN details are needed to transact more than INR 50,000 a year [2](https://www.triotech.co.in/faqs/).
  • Platforms. iOS app version 26.5.0, released 10 Oct 2026 [11](https://itunes.apple.com/lookup?id=1499806454&country=in), and Android [12](https://play.google.com/store/apps/details?id=com.fampay.in&hl=en&gl=in).

Users & growth

The operator publishes no audited user count. Dated figures:

Date Figure Source
June 2021 Over 2 million registered users [6](https://techcrunch.com/2021/06/15/fampay-a-fintech-aimed-at-teens-in-india-raises-38-million/)
2022 Peak of about 10 million users [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/)
Read 22 Oct 2026 "Trusted by 2 Cr+ users" (operator's claim) [1](https://www.famapp.in/)
Read 22 Oct 2026 Google Play: 50M+ downloads, rated 4.5 [12](https://play.google.com/store/apps/details?id=com.fampay.in&hl=en&gl=in)
Read 22 Oct 2026 App Store India: 4.47 from 136,896 ratings [11](https://itunes.apple.com/lookup?id=1499806454&country=in)

Finances. For FY23 FamPay reported Rs 7.7 crore in revenue (operating revenue Rs 3.8 crore) and a loss of Rs 120 crore, from its filing with the Registrar of Companies [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/). Entrackr put FY24 revenue at Rs 25 crore, and said FY25 revenue was Rs 90–100 crore with a profit before tax of Rs 10–12 crore, citing a source, not a filing [10](https://entrackr.com/exclusive/exclusive-famapps-turnaround-with-profitability-new-round-and-co-founder-exit-9366444). Tri O Tech's own FY 2024-25 annual return gives a turnover of Rs 444,626,000 (about Rs 44.5 crore) and a net worth of Rs 126,678,000 [5](https://triotech-website.famapp.co.in/VFRfQW5udWFsIFJldHVybiBGWSAyMDI0LTI1.pdf).

Use cases

  • Pay by UPI from a wallet, without a bank account. Users load the FamX wallet and pay with UPI or the card [2](https://www.triotech.co.in/faqs/).
  • Receive money. A sender scans the user's QR or pays the UPI ID or UPI number from any UPI app [2](https://www.triotech.co.in/faqs/).
  • Subscriptions. UPI AutoPay mandates for recurring merchant payments [2](https://www.triotech.co.in/faqs/).
  • Cash. ATM withdrawals with the FamX RuPay card at ICICI Bank, HDFC Bank, Axis Bank, SBI, Bank of Baroda, Federal Bank, IndusInd Bank, CSB Bank, Karur Vysya Bank, Indian Overseas Bank and Karnataka Bank [2](https://www.triotech.co.in/faqs/).
  • Gift cards and gaming codes. The app sells gift cards and Google Play recharge codes [2](https://www.triotech.co.in/faqs/); Entrackr lists gaming and shopping codes among its revenue lines [10](https://entrackr.com/exclusive/exclusive-famapps-turnaround-with-profitability-new-round-and-co-founder-exit-9366444).
  • Foreign visitors. Namaspay charges a one-time registration fee of Rs 1,650, 4% on loading and 1% on withdrawal [9](https://entrackr.com/2024/09/exclusive-fampay-launches-upi-app-namaspay-for-foreign-travelers-in-india/).

Fees. The FAQ lists an inactivity fee of ₹50 after 3 months without payments [2](https://www.triotech.co.in/faqs/). Entrackr lists paid upgrades: FamX Ultra (Rs 699), ATM withdrawals (Rs 29), video KYC (Rs 99) and autosave (Rs 29) [10](https://entrackr.com/exclusive/exclusive-famapps-turnaround-with-profitability-new-round-and-co-founder-exit-9366444).

Implementations & partners

  • Card network. RuPay, shown under "POWERED BY" on the site with UPI and Trio [1](https://www.famapp.in/).
  • Former bank partner. IDFC FIRST Bank, until February 2023 [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/). Since then the wallet has been Tri O Tech's own PPI, with no issuing bank named.
  • UPI. NPCI, which lists the app as a UPI PPI application [4](https://www.npci.org.in/product/upi/all-members). The PSP bank behind the bank-linked (T-PAP) mode is not named in the sources read.

Fun facts

  • Tri O Tech's PPI authorisation dates from January 2017, two years before FamPay was founded; the FamPay group gained a PPI licence by funding the purchase of a company that already held one [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043) [8](https://entrackr.com/2024/08/how-fampays-rs-200-cr-bet-on-fintech-for-teenagers-fell-flat/).

Comparison

FamApp by Trio Fi Money
Model Own non-bank PPI wallet (Tri O Tech) [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043) Federal Bank savings account through Fi's app [15](https://techcrunch.com/2026/03/11/india-neobank-fi-winds-down-banking-services-on-its-platform)
Bank account needed No; wallet plus optional bank link [2](https://www.triotech.co.in/faqs/) The product was the bank account
Status, Oct 2026 Active; app updated 10 Oct 2026 [11](https://itunes.apple.com/lookup?id=1499806454&country=in) Banking wound down in 2026 [15](https://techcrunch.com/2026/03/11/india-neobank-fi-winds-down-banking-services-on-its-platform)

The choice for a user is whether they have a bank account. FamApp's wallet works for teenagers and others without one. A bank-partner app such as Fi depended on its bank: when the partnership ended, the accounts moved to the bank's own app.

Status

Active. The iOS app was updated on 10 Oct 2026 [11](https://itunes.apple.com/lookup?id=1499806454&country=in), and the RBI list updated on 22 Oct 2026 still shows Tri O Tech's PPI authorisation [3](https://www.rbi.org.in/Scripts/PublicationsView.aspx?id=12043). The product is no longer teen-only: the site describes the wallet as helping "everyone save, spend, earn and learn" [1](https://www.famapp.in/).

Sources

Source

Biography extracted from famapp.md. See matrix.md for standards-support matrix if present.

source · content/wallets/famapp/index.md