Digital payments have changed the way we handle money today. Normally, UPI payments require a bank account.
However, the Reserve Bank of India (RBI) has now authorized Junio Payments Private Limited to launch a digital wallet that lets children make UPI QR code payments even without having a bank account.
How Does Junio Payments Work?
The main aim of Junio Payments is not just to provide a digital wallet but also to teach children and young adults financial discipline.
Through the Junio app, parents can:
Transfer money to their children,
Set spending limits, and
Track every transaction in real time.
This helps children understand money management and responsible spending from an early age.
Linked to NPCI’s UPI Circle Initiative
This new feature is part of the NPCI’s UPI Circle Initiative. Under this system, parents can link their UPI bank account to their child’s Junio wallet.
This allows children to make payments easily through their own wallet while learning the basics of digital finance.
Exciting Features for Kids
The Junio app includes several engaging tools such as:
Savings goals,
Task-based rewards, and
Real-time monitoring of transactions.
These features encourage children not only to spend wisely but also to develop the habit of saving. So far, over two million young users have joined the platform.
Building Financially Smart Youth
According to Junio Payments’ co-founders, Ankit Gera and Shankar Nath, their goal is to make children financially smart and responsible.
They also plan to introduce more features in the future to make the platform even more useful and fun for kids.
Supporting the Vision of Digital India
This initiative is a major step toward achieving the Digital India dream.
It empowers the younger generation to become financially independent, aware, and ready for a digital future.
