Delight to Banking Experience, Fintech Veteran Jitendra Gupta’s New Inning Jupiter

After the success of Citrus Pay, Jitendra Gupta’s latest fintech offering Jupiter, a go-to-banking app, is set to create a delightful banking experience for the millennials and younger generation.


Digital or cashless payments that began nascent since the announcement of demonetisation have now become mainstream with affordable smartphones and falling data prices. The fintech market is expected to be worth $150-160 Billion by 2025 as per a joint report from Boston Consulting Group and FICCI (Federation of Indian Chambers of Commerce and Industry).

With digital payments gaining a strong foothold in India, several startups are now targeting a new consumer cohort of millennials and Gen Z with new fintech products and services suiting their needs.  

The millennials and Gen Z comprises 33 percent and 27 percent respectively of India’s population and will be the main drivers of fintech in the coming years. The reasons for them becoming drivers can be largely attributed to being digital natives. They have witnessed processes getting easier with technology intervention right from shopping without carrying a wallet to paying electricity bills. This has made them firm believers of apps and technology. 

Trends like- being instant, fast and ‘no- time’ in the digital ecosystem have lowered the patience of millennials making them lose trust in bank’s slower operations. Millennials who are at an early stage of their career with fewer household responsibilities are saving less than their predecessors. 

Sensing this to be an opportunity, Jitendra Gupta, a fintech mogul and founder of Citrus Pay, has founded a neobank – Jupiter dedicated to millennials to offer a delightful banking experience.  

What is Jupiter Offering?

Jupiter is a fintech app that will act like a millennial’s go-to-banking app by providing them with a savings account and helping them to decode, analyse savings, insights about how money is growing and spending patterns. 

Jupiter has innovative products such as: 

Intelligent Piggy Bank

It helps users to understand the risky areas to spend money and move money anytime. It helps millennials to get into the savings habit by creating multiple saving goals whose progress can be tracked. 

Jupiter’s Debit Card

Offers 1 percent cashback with every single spend. One can spend freely without any annual charges. 

Spending wisely

The app can give insights into money inflows and outflows by displaying a list of your expenditure. It helps an individual to take control of spends with smart categorisation.

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The millennials and Gen Z comprises 33 percent and 27 percent respectively of India’s population and will be the main drivers of fintech in the coming years.

What can the fintech world expect? 

The fintech startups catching young consumers is nascent but promising because of tech-savviness and their love for experimenting with apps. The finance and banking sector has kept youngsters disinterested because of jargon and complexities. 

However, they will be the new consumers of the fintech world. Hence, it is essential to fill the gaps of their financial knowledge and create easy-to-understand experiences in the fintech processes.

Will Jitendra Gupta be able to create disruption and turn heads again? 

Every generation comes with a unique set of behaviours that presents a new set of challenges. To engage this generation, Jupiter is focussing on financial literacy of its consumers parallelly nurturing the interest in finance by its unique concept of showing money outflows and inflows. 

Jupiter aspires to become the Swiggy of fintech space whose efficient customer resolution via live chat has set new standards of customer satisfaction. Jupiter is offering a personalised touch to its customers by allowing them to set their own saving goals, control their spends, understand money inflows and outflows and earn reward points through spends. 

Learning and insights for the fintech industry and fintech founders

To cater to the new generation for fintech below are some of the learnings : 

Personalisation

Millennials and Gen Z are fond of personalisation. They want to be associated with brands that value them and not treat them like any other customer. 

Establishing transparency

Millennials will not tolerate ‘hidden charges/ taxes‘ or read the fine print. They want to seek clarity on credit limits, interest rates, penalty charges and pay dues. 

They have an abundance of information at their fingertips. If they find any deviation, their dissatisfaction can bring a bad name to the brand.

Efficient customer service

Live chats and instant resolution of the problem is imperative for any fintech brand to meet. 

Fun in managing finances and rewards

Fintech founders should make financial management engaging. Introducing cashback and rewards through spends or gamification can make the experience a fun one and induce loyalty.

Shalmoli Sarkar
Shalmoli Sarkar
An MBA in marketing and a BTech in chemical engineering, Shalmoli writes on marketing strategies and business technology for new and aspiring entrepreneurs.

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