Junio Payments Pvt Ltd, a fintech company focused on creating smart payment solutions for children and young adults, has received an in-principle authorization from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs). This approval marks a key milestone in the company’s mission to promote safe, supervised, and convenient digital transactions for India’s youth segment.

Key Highlights

• Junio Payments secures RBI’s in-principle nod to issue prepaid instruments, expanding youth-focused digital payment solutions.
• The fintech aims to boost financial literacy and inclusion by enabling safe, supervised digital transactions for youth.

With this authorization, Junio can now issue and manage prepaid wallets and digital instruments, including cards that can be used for online and offline payments. The move is expected to enhance financial inclusion and digital payment adoption among young users, particularly those who are not yet eligible for traditional banking products.

The Junio app already allows parents to create smart cards for their children, enabling them to make controlled spending decisions while learning basic money management. The RBI nod will further empower Junio to operate as a regulated PPI issuer, expanding its services to offer reloadable wallets and digital payment features integrated with UPI and merchant networks.

Also Read: What is VPA in UPI and How It Simplifies Digital Payments?

This development also reflects the central bank’s continued push to formalize and regulate India’s growing fintech ecosystem, particularly in the prepaid and digital payments segment. By focusing on youth-centric financial literacy and innovation, Junio is positioning itself at the forefront of the next phase of India’s digital finance revolution.