The Reserve Bank of India (RBI) has approved Junio Payments to launch a UPI-linked wallet for children and teens, allowing secure digital payments-even without a bank account.
RBI’s Big Move Toward Financial Education for Kids
In a groundbreaking decision, the Reserve Bank of India (RBI) has given in-principle approval to Junio Payments Pvt. Ltd. to issue Prepaid Payment Instruments (PPIs). This decision paves the way for a UPI-linked wallet specifically designed for minors, promoting financial learning through safe, real-world digital transactions.
This initiative aligns with India’s growing push for digital inclusion and financial literacy among younger generations-making money management accessible, practical, and secure for school-aged users.
UPI Wallet Without a Bank Account
The upcoming Junio wallet will allow children and teenagers to make UPI payments without having a personal bank account. Instead, they can use their UPI-linked wallet to scan any merchant’s QR code and pay directly-just like adult users.
This new capability builds on the UPI Circle initiative by NPCI (National Payments Corporation of India), which allows youngsters to transact through their parents’ linked UPI accounts. The goal is to blend convenience with education, teaching kids to handle digital payments responsibly under parental supervision.
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What Is Junio Payments?
Founded by Ankit Gera and Shankar Nath, Junio Payments is a fintech company focused on financial literacy for children and teenagers. The platform helps parents give kids controlled financial independence through supervised spending tools.
Parents can:
Transfer pocket money instantly
Set spending limits
Monitor all transactions in real time
The app also introduces gamified learning, allowing children to earn task-based rewards, set savings goals, and learn the basics of budgeting in a fun and interactive way.
Junio’s Card and Wallet Features
Junio already offers RuPay-branded cards — both physical and virtual — supporting online, offline, and tap-to-pay transactions. The platform has crossed two million young users, proving its growing popularity among Indian families.
The RBI’s approval further enhances Junio’s capabilities, letting it issue UPI-enabled wallets under a regulated framework. This ensures that every transaction is secure, transparent, and fully compliant with India’s financial laws.
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What Junio Co-Founder Says
Speaking to CNBC-TV18, Junio’s co-founder Ankit Gera said the RBI approval strengthens their long-term mission of empowering young users.
“Our goal is to create a financial ecosystem that balances guidance and freedom. We want to help the next generation not just spend, but manage money wisely,” Gera stated.
This perspective reflects the growing need for financial discipline among children in a digital-first world-something Junio aims to make simple, safe, and enjoyable.
Upcoming Features and Future Plans
Junio has ambitious expansion plans over the next few months. The company aims to roll out:
Full UPI integration
Reward points on savings
Exclusive brand vouchers
NCMC-supported transit payments for metro and bus travel
These features will allow students and young commuters to go cashless during travel and enjoy smoother digital experiences across platforms.
Why This Matters
With this move, the RBI is helping create a digitally responsible generation. By introducing financial tools at a young age, children can learn budgeting, saving, and the value of money-all within a safe, regulated environment.
The Junio wallet is not just about spending- it’s about shaping India’s next generation of financially smart, tech-savvy youth.
