[Exclusive Interview] This Money Management Platform Is Determined To Make 1 Million Indian Youths Financially Responsible

Recently, we interacted with Mr. Navneet Gupta, CEO and Founder at Ypay – A money management platform that enables youngsters to learn money management and earn points along with attractive cashback and discounts from over 300 brands.

Here are the interview highlights:

How is the business of YPAY in 2023?

In 2023, YPay’s business is experiencing a period of remarkable growth and success. The company has recently launched innovative offerings in the e-payments sector, attracting considerable attention from teenagers who are eagerly embracing the opportunity to have their own payment cards for the first time. This surge in interest reflects YPay’s commitment to providing practical financial solutions for youth, reinforcing its position as a leader in the neobanking industry.

How did you get the idea or concept for this business?

The idea for YPay was born out of a desire to bridge the gap between children’s fascination with technology and the limitations of traditional cash transactions. Recognising that technology plays a significant role in modern education, we saw an opportunity to create a platform that not only allows children to embrace technology but also equips them with essential financial skills for the future.

What is unique about your business

What sets our business apart is our unwavering commitment to providing the youth with a valuable resource that often remains untapped: technology for financial advancement. We are dedicated to making financial literacy more accessible and empowering young individuals to navigate their financial futures with confidence.

No of banks onboarded till date

To date, YPay has established strategic partnerships with a total of three banks. These collaborations have enabled us to offer our users a comprehensive and secure financial platform. Each bank partnership brings unique advantages and services to our customers, further enhancing their financial experience. Through these partnerships, YPay continues to expand its reach and provide young individuals with a wide range of financial services and opportunities.

What is the future projection in the upcoming financial year 2023-24

In the upcoming financial year 2023-24, our projection is to onboard over 1 million teenagers onto our platform. We aim to significantly expand our user base, empowering a larger number of young individuals with our innovative financial solutions and fostering financial literacy among them.

How many students are you plannng to acquire in the coming year?

In the coming year, we are planning to acquire more than 1 million teenagers on our platform, as we continue our mission to empower young individuals with practical financial experiences and promote financial literacy.

Cities currently operating in

Currently, we are operating in a total of 8 cities, encompassing Tier 1, Tier 2, and Tier 3 cities. This diverse presence allows us to serve a wide range of young individuals across various regions, helping them gain valuable financial insights and experiences.

Challenges faced in the business till now

In the initial stages of our operations, one of the challenges we encountered was network connectivity issues. However, we are pleased to report that the situation has significantly improved since then, allowing us to provide a smoother and more seamless experience for our users.

How do you build a successful customer base?

Building a successful customer base involves creating a platform that is not only user-friendly but also has a profound impact on user behavior. By offering a seamless and valuable experience, we attract and retain customers who find our platform beneficial in their financial journey. Our focus on delivering practical financial solutions and promoting positive financial habits has been key to building a strong and loyal customer base.