Junio Payments, a subsidiary of FirstPay Technologies, has received in-principle authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs).<\/p>\n
According to Junio Payments, this marks a significant milestone in its journey to expand access to secure and innovative digital financial solutions designed especially for teenagers and young adults.<\/p>\n
With this authorisation, Junio will soon introduce a digital Wallet linked to UPI, allowing users to scan UPI QR codes and make payments even without a bank account. This capability aligns closely with the UPI Circle initiative launched by NPCI, enabling youngsters to make UPI payments using their parents\u2019 linked UPI accounts.<\/p>\n
Founded by Ankit Gera and Shankar Nath, Junio has been at the forefront of creating a unique digital ecosystem tailored for young users. The Junio app, along with its RuPay co-branded physical and virtual prepaid cards, empowers parents to transfer money, set spending limits, assign tasks or allowances, and monitor financial activity in real time.<\/p>\n
\u201cPrepaid wallet is more powerful now as\u00a0 it can be linked for UPI payments. Our focus is on innovation that balances freedom with guidance\u2014ensuring every digital transaction becomes a step toward independence, literacy, and trust,\u201d said Ankit Gera, co-founder of Junio Payments.<\/p>\n
The Junio app, trusted by over 2 million students and young professionals, creates a safe, cashless, and educational payment environment for India\u2019s digital-native youth. It supports online and offline purchases, tap & pay, and NCMC-enabled transit payments.<\/p>\n
Disclaimer:<\/p>\n
Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investors here<\/a>.<\/p>\n
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