Junio Payments receives RBI's in-principle authorisation to issue prepaid payment instruments

Junio Payments Pvt Ltd (JPPL), a wholly owned subsidiary of FirstPay Technologies, has received in-principle authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs).

With this, Junio will introduce a digital wallet linked to UPI, enabling users, especially teenagers and young adults, to scan UPI QR codes and make payments even without a bank account. The product’s design aligns with the National Payments Corporation of India’s ( NPCI ) UPI Circle initiative, which allows youngsters to transact through their parents’ linked UPI accounts.

Founded by Ankit Gera and Shankar Nath, the company aims to create a safe and educational financial ecosystem that blends freedom with parental oversight. The Junio app already offers RuPay co-branded physical and virtual prepaid cards through which parents can transfer money, set spending limits, assign allowances or tasks, and track expenses in real time.

“Prepaid wallet is more powerful now as it can be linked for UPI payments. Our focus is on innovation that balances freedom with guidance — ensuring every digital transaction becomes a step toward independence, literacy, and trust,” said Ankit Gera, co-founder of Junio Payments.

The Junio platform supports online and offline purchases, tap-and-pay transactions, and NCMC-enabled transit payments.