• RBI gives approval to ‘Junio’ app


• Specially designed for children and young adults


• India’s first youth centric fintech platform

Junior UPI Wallet Launch : RBI is coming up with an app for kids soon. It has approved Junio ​​Payments Pvt Ltd, a UPI wallet for children without a bank account. This will give children hands-on experience of digital payments and financial literacy.

• Junio : A smart card and app for kids that teaches responsible spending and saving. Parents can control expenses through this app.

The app was founded by former Paytm executives Ankit Gera and Shankar Nath. Both of them Junio Co-founder of this fintech startup. Ankit Gera and Shankar Nath have jointly created a smart card and app for children. It will help children to save for financial transactions. Created with the intention that children need the right tools to spend money safely.

Parents can monitor their children through this app. They can send money, as well as control their spending by setting spending limits. Even, can monitor every transaction in real time. This way parents can prevent their children from spending too much. This app teaches children the importance of saving along with task rewards. This will help children learn financial literacy.

Junio’s RuPay-branded card offers several advantages over both physical and virtual options. Makes transactions like online, offline and tap-and-pay simple and easy. More than two million young users are already using it. That means it is already active in lakhs of households, the company said.

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Ankit Gera, Co-Founder, Junio ​​Payments, said, “This RBI approval reinforces the vision that the next generation will learn to manage money wisely rather than just spend it, creating a financial ecosystem that balances guidance and freedom.”

Many new features will be added to the app in the coming months with future plans. Things like reward points on savings, NCMC-supported transit payments, UPI integration, brand voucher incentives will be added. This will also make cashless payment for bus travel easier. The main objective of the company is to provide a safe, cashless and educational payment experience to the youth. With this, Junio ​​can be identified as India’s first youth-focused fintech platform.