Digital payments have become a part of our daily lives — from buying food to paying electricity bills, everything is now done online.
To make these payments safer and smarter, the Reserve Bank of India (RBI) has taken a major step forward.
The RBI has given in-principle approval to Junio Payments Private Limited to issue prepaid payment instruments (PPIs).
This move is seen as a big step toward creating a secure digital payment system for children and youth.
With this approval, Junio is preparing to launch a UPI-linked digital wallet that will let users make payments even without a bank account.
What Makes the Junio Wallet Special?
The standout feature of the Junio Wallet is that it allows users — especially children — to make UPI payments by scanning QR codes, even if they don’t have a bank account.
This wallet is part of the NPCI’s UPI Circle initiative, which means parents can connect their UPI accounts to their children’s wallets.
Kids can then make transactions independently while parents keep an eye on everything.
This system helps children learn financial literacy in a real-world way — understanding how to manage money, control spending, and save responsibly.
What Is Junio Payments?
Junio is a fintech app co-founded by Ankit Gera and Shankar Nath, designed especially for children and young adults.
Its main goal is to teach young users how to spend wisely and save smartly.
Parents can use the app to transfer money, set spending limits, and monitor transactions in real time.
The app also includes fun and educational features like task-based rewards and savings goals to encourage better money habits.
Junio offers a RuPay-branded card, available in both physical and virtual formats, for online, offline, and tap-and-pay transactions.
With more than two million young users, the app is already popular among Indian families.
Junio’s Vision and Future Plans
According to Junio co-founder Ankit Gera, this RBI approval supports their vision of helping the next generation learn to manage money wisely — not just spend it.
Their aim is to build a financial ecosystem that offers both freedom and guidance.
Looking ahead, Junio plans to introduce new features like UPI integration, reward points for savings, brand voucher offers, and NCMC-supported transit payments, allowing cashless travel in buses and metros.
With these updates, Junio aims to become India’s first youth-focused fintech platform, providing a safe, educational, and cashless payment experience for the country’s young generation.
