RBI Approves Junio Payments: Kids Can Now Make UPI Transactions Without a Bank Account

In a groundbreaking step towards expanding digital financial inclusion, the Reserve Bank of India (RBI) has granted approval to Junio Payments Private Limited to launch a unique digital wallet designed exclusively for children and teenagers. This innovative initiative will allow minors to make UPI payments without owning a bank account, marking a significant milestone in India’s digital payment ecosystem.

A Step Toward Financial Inclusion for the Young Generation

Traditionally, UPI transactions have been restricted to individuals with active bank accounts. However, RBI’s approval to Junio Payments changes this norm by empowering children to make digital payments directly using UPI QR codes through a prepaid wallet system. The concept not only simplifies digital transactions but also promotes early financial literacy among young users.

How Junio Payments Works

The Junio app is not merely a digital wallet — it’s designed as a financial learning platform for children and teens. Parents can transfer money to their child’s Junio wallet, set spending limits, and monitor every transaction in real time. This system helps kids understand budgeting, responsible spending, and the value of money from an early age.

Parents maintain full control through features that let them approve payments, assign allowances, and even reward children for completing specific tasks. In essence, Junio blends convenience with education, turning every transaction into a learning experience.

Linked with NPCI’s UPI Circle Initiative

Junio’s model operates under NPCI’s UPI Circle Initiative, which allows parents to connect their own UPI-linked bank accounts with their child’s Junio wallet. This ensures safe, supervised, and seamless digital transactions. Kids can pay using UPI while parents track their financial activity, creating a healthy digital ecosystem for family-based financial management.

Key Features of the Junio App

Junio’s digital wallet offers a range of unique and engaging features tailored for younger users:

• Savings Goals: Encourages children to set and achieve saving milestones.

• Task-Based Rewards: Parents can assign household or academic tasks and reward kids with digital money.

• Real-Time Monitoring: Offers parents instant notifications of every transaction for transparency and control.

• Prepaid Card Integration: In select plans, children can also receive a prepaid card to use for offline purchases within set limits.

With more than two million young users already onboard, Junio has quickly become one of India’s leading youth-focused fintech platforms.

Building Financial Responsibility Among Kids

According to Junio Payments’ co-founders Ankit Gera and Shankar Nath, the platform’s main objective is to teach children financial discipline and independence. By offering a safe, regulated space to make digital payments, Junio helps bridge the gap between education and practical money management.

The founders also revealed plans to introduce additional features in the coming months — including investment learning modules, family savings tools, and gamified financial education — to make the platform even more engaging and educational for children.

A Boost for Digital India

The RBI’s green signal to Junio Payments aligns with the vision of Digital India, encouraging every generation to adopt secure, cashless transactions. By enabling minors to use digital wallets responsibly, this initiative fosters early financial awareness, smart spending habits, and economic empowerment from a young age.

As digital payments continue to evolve, platforms like Junio are redefining how India’s youth interacts with money — making them not just tech-savvy but financially smart too.

Disclaimer: The above information is for educational purposes only. Users are advised to read the terms and conditions of Junio Payments and RBI’s prepaid instrument regulations before use.