Teen-Focused Debit and Travel Card launched by Pencilton // Some Information about debit card and pencilton // 2022 Current affairs //

Teen-Focused Debit and Travel Card launched by Pencilton:

Pencilton, a Fintech startup based in India that mainly focus on teens has just ventured into the debit card segment with the launch PencilCard, which is compliant with National Common Mobility Card standards. It has been launched in collaboration with Transcorp. 

PencilCard works for both online and offline payments mode in addition to this it can also be used as a metro and bus card. PencilCard issued under Platinum RuPay card. Teens can establish savings goals, save in a ‘digital piggy bank’, finish chores given by parents for bonus pocket money and access a variety of other functions.

The National Common Mobility Card was developed by the Ministry of Housing and Urban Affairs on 4th March 2019. It allows the user to pay for travel, toll duties, retail shopping and withdraw money, which will allow a smooth hassle-free experience while travelling.

SPECIAL NOTES FOR ASPIRANTS:

• Minister of Housing and Urban Affairs- Hardeep Singh Puri

• Smart City Mission launched in 2015

• Rupay Card introduced in 2014

• Pencilton HQ- Hyderabad

• A debit card is a payment card that deducts money directly from a customer's linked account