In the midst of the Corona epidemic, Ankit promoted the habit of initiating online events in children through the Junio program. It was a program for children to use the internet, but the power to pay was with the parents. In any case, OTP must be installed by the same parent. News18 spoke with Ankit Gaira, co-founder of the Junio program. Here are some selected words from his discussion.
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Q: How did the founders come up with the unique idea as a children’s pocket payment card?
Answer : Most online activities were initiated by children, but the power to pay was with the parents. Children had no means of donating money and parents did not have the necessary tools to pay free money to their children by supervising them on digital events. All of these things helped us to get such an idea.
Q: How does it work?
Answer: In a nutshell, Junio is a great way for parents to pay for their children’s upkeep. For children, there are many payment tools such as cards, UPIs, QR scanners, and much more, which can be used online and offline. Parents can order the card on the Junio program by paying a registration fee of 99 Rs. Junio’s card is similar to a debit card and works the same way, but does not have to worry about opening a bank account. It can also be empowered by a parent.
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Q: How has the journey from these ideas started so far?
Answer: Junio as an idea was made in October 2020. We started a few months in March (2021). We realized that such an idea is always needed in Junio. Meanwhile, changes in Kovid’s system have exacerbated this. We hope that in addition to online learning and games, the idea of owning what you pay for and what you spend will come to mind in the future.
Q: Can counting money be taught to children through fintechs like Junio?
Answer: Our platform focuses on the basics of investing, earning and managing finances. Parents can assign children homework on the program and pay for the children upon completion. The Junio program also teaches child start-up fundraisers by encouraging activities to help them understand how difficult it is to find. It is important that children be taught good manners at an early age.
Q: What are some of the challenges and opportunities you have faced over the past year?
Answer: Digital has grown exponentially during the epidemic and has become a very popular means of marketing. As the demons forced people to pay more for themselves, the plague also allowed them to buy things online and to buy bigger things. Generation Z, which has always been passionate about digital, has changed dramatically in the last 12 months.
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Q: What would be the future of fintech for children?
Answer: The future of fintech for children promises. Initially, when children learn to plan their finances and other simple banking activities, it gives them a good start and prepares them for the future. On the business side, fintech makes an important promise for children by bringing in more knowledgeable children. It’s like a green place at the moment. In addition, it has a lot of business interest and additional revenue contributes significantly to production, distribution and marketing, and much more.
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Q: What did you learn from Paytm?
Answer: At Paytm, we realized that there is a lot of power in collaboration. We have worked with more than 100 manufacturers on consumer promotions as a Paytm ransom. It’s a win for all, not a zero game. One of the great benefits of being part of the Paytm journey is that we’ve seen a big one up close. Unless one is part of the journey, the other cannot imagine its size. We’ve looked at events and seen how a brand name can be taken as an example, like Paytm or Google. In these cases, many things have to come together such as marketing, development, expertise and relationships. Yet it does not guarantee success. On the same additions, sometimes the results are very different. But what it does do is make it harder for us to be better. Past experience enables us to see opportunities that may be greater in the future. Another important lesson from Paytm is that there is no substitute for strong technology and marketing. The break time plays an important part and the amount of work should be at least 100%. Otherwise, users will jump.