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

Junio Payments Pvt Ltd (JPPL), a wholly owned subsidiary of FirstPay Technologies, has secured in-principle authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs) — marking a major step forward in the company’s mission to promote financial literacy among India’s youth.

The company said the approval will enable it to roll out a digital wallet linked to UPI, allowing users — particularly teenagers and young adults — to scan UPI QR codes and make payments even without a bank account.

Junio said the wallet’s design aligns with the UPI Circle initiative launched by the National Payments Corporation of India (NPCI), which enables youngsters to transact via their parents’ linked UPI accounts. The model aims to introduce teenagers to responsible money management and real-world financial learning in a controlled environment.


Junio already operates a financial management app complemented by RuPay co-branded physical and virtual prepaid cards. These tools allow parents to transfer money, set spending limits, assign allowances or tasks, and monitor spending in real time, helping nurture early financial discipline and awareness.

The company described the RBI authorisation as a “significant milestone” that will strengthen its mission of building a safe, transparent and educational financial ecosystem for India’s younger demographic.