• Junio receives RBI approval to issue prepaid payment instruments.
• The new digital wallet will allow UPI payments without a bank account.
• Aimed at empowering teens with safe and guided digital spending tools.

Junio Payments, a subsidiary of FirstPay Technologies, has received in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs). This approval marks a major step for the fintech startup in building accessible and secure financial tools for India’s young generation.

With this authorization, Junio plans to launch a digital wallet linked to UPI, enabling users to scan UPI QR codes and make payments even without a bank account. The feature complements NPCI’s UPI Circle initiative, which lets teenagers use their parents’ linked UPI accounts for transactions, encouraging safe financial independence among youth.

Founded by Ankit Gera and Shankar Nath, Junio has built a strong reputation as a youth-focused fintech platform. Its app and RuPay co-branded prepaid cards allow parents to send money, set spending limits, assign allowances, and track their children’s transactions in real time.

Ankit Gera, Co-founder of Junio Payments, said, “Prepaid wallets are more powerful now since they can be linked to UPI. Our goal is to innovate responsibly, giving young users financial freedom while building trust and literacy”.

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With over 2 million users, the Junio app offers a safe, cashless, and educational payment experience. It supports online and offline payments, tap & pay, and NCMC-enabled transit payments, making it a complete solution for India’s digital-native youth.