Photo: Left Pencilton founders   Right: PencilCard
Bangalore  January 29,2022: Pencilton, a teen-focused fintech startup, has launched PencilCard, a prepaid RuPay card with NCMC for teens. PencilCard is an NCMC-compliant (National Common Mobility Card) prepaid RuPay card specially designed for the teenager segment. It has been launched in partnership with Transcorp.
For users, a single PencilCard will serve multiple needs as this prepaid RuPay card which works for online & offline payments just like any other smart card also doubles up as a metro card, and bus card - an all-in-one card. The smart card can already work as a metro card for travel in Delhi (Airport line) & as a bus card in Goa (across KTC buses). It is also scheduled to be accepted for metro travel in Pune, Chennai & Mumbai as well as in BEST buses (Mumbai) very soon. 
It transforms the entire card experience as it is equipped with NCMC’s unique features. This card is a part of the most advanced generation of contactless prepaid smart cards that can be used for payments across various channels, including retail shopping offline, online shopping, travel and in the future - tolls and parking, among others. It comes with the capability to store seasonal tickets & monthly passes, using which Mumbai Local authorities are planning to let season ticket holders top up the ticket via the card and purchase tickets.
Pencilton’s PencilCard is also a Platinum RuPay card, and therefore, it comes with some additional benefits like free access to lounges at all airports in India. 
Users can activate their card via the Pencilton app for loading money, getting a category-wise spend analysis, blocking/unblocking cards, setting limits, setting savings goals, saving in a ‘digital piggy bank’, finishing chores given by parents for bonus pocket money and accessing a variety of other functions. The Pencilton app allows for gamified learning around pocket money, facilitated by interactive community involvement, making it more than just a payment app. Quizzes and exercises at various levels are included in this type of learning, and youngsters can earn PencilPoints while learning about money. 
Says Vishwajit Pureti, Co-founder and CEO of Pencilton: “We are very excited about the launch of PencilCard. The fintech for teens space has grown rapidly in recent years, highlighting the need for innovation and technology adoption to make financial literacy more accessible to teens. Therefore, Pencilton chose to bridge the market gap by introducing India’s first Smart card with NCMC exclusively for teens that encompasses the very best of the ever so vibrant Indian fintech ecosystem. “
Pencilton is offering the virtual PencilCard for free. The physical card is priced at an affordable Rs 199. As part of the launch promotion, users can get their PencilCard for just Rs.99.
Pencilton was founded by Vishwajit Pureti, Ashish Singh, Pallavi Tipparaju, and Viraj Gadde in 2020. The company enables the financial inclusion and digital financial literacy of 250 million teens & students across India through PencilCard.