Junio becomes the first fintech to get RBI approval for a UPI-linked digital wallet for minors, teaching kids money management in a fun, safe way
RBI Gives Nod to Junio for Kid-Friendly Digital Payments
In a move that could change how kids in India learn about money, the Reserve Bank of India (RBI) has allowed Junio Payments to issue prepaid payment instruments (PPIs) — basically, digital wallets that can be used with UPI (Unified Payments Interface).
This means kids and teens can now make UPI payments without even having a bank account. The approval opens doors for safe, supervised digital transactions designed just for minors.
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What This Means for Young Users
With this RBI approval, Junio is all set to roll out its UPI-linked digital wallet. Once launched, it’ll allow children to scan any UPI QR code and pay instantly — similar to how adults use UPI apps today.
This move aligns with the NPCI’s UPI Circle initiative, which encourages children to learn financial responsibility under parental supervision. It’s a step toward building financial literacy through real-world experiences.
So, the next time a kid buys a snack or pays for an online class, they can do it themselves — securely, through Junio.
How Junio Makes Money Management Fun
Founded by Ankit Gera and Shankar Nath, Junio has been on a mission to help children understand how money works. Parents can transfer funds to their child’s Junio wallet, set spending limits, and track expenses in real-time.
The platform also features task-based rewards, encouraging kids to complete small chores or goals to earn money. It’s like gamifying financial education — turning pocket money into a learning experience.
RuPay Cards and Real-World Usage
Junio already offers RuPay-branded cards, available in both physical and virtual forms, which can be used for online shopping, tap-to-pay, or in-store transactions.
The platform boasts a user base of over 20 million young users — a number that’s likely to soar now that RBI has given it the green light.
Co-founder Ankit Gera told CNBC that this approval will help Junio “empower the next generation with responsible financial habits” while keeping transactions simple and parent-monitored.
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Why This Move Matters
Digital payments have become part of everyday life in India, from chai stalls to cab rides. By extending UPI to kids, RBI is nurturing early financial discipline and tech awareness among the next generation.
This isn’t just about convenience — it’s about preparing young Indians for a digital-first economy, responsibly.
