Pencilton, a teen-focused fintech startup, has launched PencilKey, a National Common Mobility Card (NCMC) compliant RuPay contactless keychain, in partnership with the National Payments Corporation of India (NPCI) and Transcorp. Users can activate and manage their PencilKey through the Pencilton app which is also used to load money, check spends, block/unblock the account, set limits, etc.
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Key points:
- PencilKey is linked to the PencilCard which is an all-in-one prepaid card, metro card, and bus card. PencilKey is equipped with the benefits of NCMC which works at the Delhi Airport Metro line and Goa’s buses currently.
- It is also scheduled to be accepted for metro travel in Pune, Chennai & Mumbai as well as in BEST buses in Mumbai. According to Pencilton, the virtual PencilCard comes for free.
- Users can buy their PencilKey for ₹150 and PencilCard for ₹100, but as part of the company’s launch offer, users can also buy a PencilKit (combo) which includes both PencilCard and PencilKey for ₹200.
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