The approval will allow Junio to introduce a digital wallet linked to the Unified Payments Interface (UPI), enabling users—particularly teenagers and young adults—to scan UPI QR codes and make payments without a bank account.
The feature aligns with the National Payments Corporation of India’s (NPCI) UPI Circle initiative, which lets young users make UPI transactions through their parents’ linked accounts.
Junio, founded by Ankit Gera and Shankar Nath, operates a payment app designed for young users. It offers physical and virtual RuPay co-branded prepaid cards, parental controls for spending, and tools for monitoring transactions and setting allowances. The platform currently has over two million users.
According to the company, the RBI’s in-principle approval supports its goal of expanding access to secure and compliant digital financial products. Junio said it aims to strengthen financial literacy and promote responsible money management among youth through its app and upcoming wallet features.
The company also plans to add UPI integration, savings-linked rewards, and brand voucher incentives to its offerings. These updates are intended to enhance inclusion and create a more interactive financial learning experience for young users.
Junio Payments Private Limited develops regulated digital payment products focused on financial literacy, family-based money management, and responsible digital transactions in India.
