Tuesday, April 16, 2024

Financepeer launches UVA, an innovative numberless dual-interface card for students

Mumbai, : With an aim to achieve cash-free campuses, Financepeer, one of India’s leading edu-fintech startups has unveiled its latest offering – the UVA Card, powered by Visa.

Financepeer UVA Card Program will be their numberless prepaid photo ID card for students, parents, and institutes to make day-to-day transactions easy and hassle-free. UVA Card, technologically backed by Visa, is an innovative approach to digitizing the financial system in educational institutes across India. The program intends to create cash-free campuses by enabling the institutes, parents, and students to pay and receive fees, withdraw cash, do e-commerce transactions and be able to make payments effortlessly at any retail outlets that use point of sale (POS) terminals.

UVA Cards are pre-paid contactless cards that can drive financial independence among young adults. This card helps in getting extended credits, makes hassle-free payments, and teaches the youth to save and spend money wisely, besides offering various rewards and discounts.

Rohit Gajbhiye, CEO and Founder, of Financepeer, said, “We are working towards bringing a revolution in Edu-fintech space through technology and at the same time creating impact at the bottom of the pyramid, via increasing access to quality education. Our recent funding and collaboration with industry stalwarts have given renewed strength and a new purpose to our mission. In view of this, we are launching a numberless dual interface product which is a photo ID card to make cashless transactions easy for students, parents and institutes with just a tap. To make electronic payments safer and hassle-free for our students, these Visa cards have been designed with EMV chips”.

Financepeer is gearing to expand its reach to remote areas and has witnessed 10x growth in the last year. The company has partnered with more than 10,000 educational institutions with a Pan-India footprint, to deliver affordable fee financing products, Edu-tech content, and fee payment solutions. Founded in 2017 by seasoned alumni from IIT/IIM/Stanford, Mr. Rohit Gajbhiye, Mr. Sunit Gajbhiye, Mr. Naveesh Reddy, and Mr. Debi Prasad Baral, Financepeer is one of the first players in this space catering to both offline and online education providers including pre-schools, K-12, colleges, universities, offline test prep, ed-tech, and skilling.

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