The Reserve Bank of India (RBI) has granted in-principle approval to Junio Payments Pvt Ltd to issue Prepaid Payment Instruments (PPIs), effectively authorizing the creation of a UPI-linked digital wallet for minors.
The approval marks a significant milestone in India’s digital-payments journey—one that blends financial inclusion with early financial literacy. Children and teens will soon be able to scan any UPI QR code and pay for everyday items without maintaining a bank account, using funds linked to their parents’ UPI profiles.
UPI Without a Bank Account: The Next Leap in Inclusion
Junio’s forthcoming product aims to make UPI transactions accessible to a generation that grew up watching their parents pay digitally but couldn’t participate themselves.
The wallet builds upon the NPCI’s UPI Circle initiative, which allows supervised payments from minors through parent-linked UPI accounts. This framework ensures security while encouraging kids to experience real-world money management in a controlled environment.
Experts say the RBI’s nod represents a cautious but forward-looking step toward creating a structured digital-finance ecosystem for under-18 users, balancing innovation with consumer protection.
Inside Junio: Gamified Finance for the Young
Founded by Ankit Gera and Shankar Nath, Junio is designed as a fintech learning tool that combines pocket-money management with responsible spending. Through its app, parents can transfer money, set transaction limits, and monitor expenses in real time.
The platform incorporates gamified challenges, saving goals, and task-based rewards, turning financial education into an interactive experience. Its RuPay-branded cards, available in both physical and virtual formats, already support tap-to-pay, online, and in-store purchases.
With over two million registered young users, Junio is among India’s fastest-growing youth-oriented fintech brands.
Balancing Innovation and Oversight
Industry observers view the RBI’s decision as part of a broader regulatory shift to formalize youth financial participation while minimizing risk.
Allowing supervised wallets for minors aligns with India’s larger goal of building digital-first citizens capable of managing cashless economies responsibly. “This is not just a payments innovation—it’s a social experiment in financial behavior,” said a fintech analyst familiar with the rollout.
As the RBI finalizes compliance terms for Junio’s PPI license, the initiative could set the stage for age-appropriate fintech products across India’s $4-trillion digital economy.
