Fampay launches UPI app Namaspay for foreign travelers in India
Fampay, initially a teen-focused neo-banking platform, has launched Namaspay, a UPI-powered payment app for foreign travelers in India. The app, costing Rs 1,650 for registration with transaction fees of 4% and 1% on loading and withdrawal, caters to tourists from Europe, Africa, Australia, and the US. Given the high UPI adoption in urban India, Namaspay fills a niche by offering a convenient cashless option for visitors. With 92 million foreign tourists in 2023, there’s significant potential for such apps. Although currently competing with Cheq, larger players like PhonePe and Paytm might enter this space. Namaspay represents Fampay’s strategic pivot from a teen app to a broader UPI solution.
#namaspay #upifortourists #foreigntravelers #paymentapp #fampay #upipayments #digitalpayments #fintech #paymentsolutions #upirevolution #fintechinnovation #upiadoption #mobilepayments
https://entrackr.com/2024/09/e....xclusive-fampay-laun
