In a landmark move aimed at promoting financial literacy among children, the Reserve Bank of India (RBI) has granted approval to Junio Payments Pvt. Ltd. to launch a digital wallet that allows kids to make UPI payments without having a bank account. This step marks a major milestone in India’s ongoing digital transformation, helping children learn the fundamentals of money management and responsible spending from an early age.

What Is Junio Payments and How Will It Work?

Junio Payments is not just a digital wallet—it is a smart financial learning platform designed especially for children. Through this app, parents can transfer money to their child’s Junio Wallet, set spending limits, and monitor transactions in real time.

For instance, parents can send pocket money directly to their child’s Junio Wallet. The child can then use that balance to make UPI payments by scanning QR codes at school canteens, bookstores, or even for online subscriptions. This eliminates the need for cash while ensuring transparency and financial discipline.

Linked With NPCI’s UPI Circle Initiative

This initiative is part of the UPI Circle Program launched by the National Payments Corporation of India (NPCI). Under this program, parents’ bank accounts can be securely linked to their children’s Junio Wallets. As a result, children can use their wallet balance to make instant UPI payments directly through QR codes, just like adults—but within safe, controlled limits.

This initiative goes beyond convenience—it aims to teach children the value of money, budgeting, and digital payment safety in a practical and supervised way.

Key Features of the Junio App

The Junio app offers several unique features tailored to young users and their parents:

• Saving Goals: Children can set personal savings goals, such as buying new books, a gadget, or saving for a school trip.
• Task Rewards: Parents can assign chores or tasks, and reward completion with small cash transfers—turning financial education into a fun, gamified experience.
• Real-Time Monitoring: Every transaction generates instant notifications, allowing parents to monitor spending patterns and ensure responsible use.

With over two million users already, Junio is rapidly emerging as one of India’s most trusted financial tools for children.

Empowering Financially Smart Kids

According to Ankit Gera and Shankar Nath, the co-founders of Junio Payments, this approval from RBI reinforces their mission to make every child financially aware and independent. They emphasize that early exposure to digital payments and budgeting helps children learn how to save, when to spend, and how to stay safe online.

The company plans to introduce more features soon—such as interactive learning modules and digital safety training—transforming Junio into a comprehensive financial education ecosystem for the next generation.

A Step Towards Digital Inclusion

RBI’s move to allow child-friendly UPI wallets reflects a broader vision of financial inclusion and digital empowerment. By giving children safe access to digital transactions, India is nurturing a new generation of tech-savvy and financially responsible citizens.

In essence, the Junio Payments initiative represents a digital revolution for kids, turning pocket money into a tool for learning and financial growth—without the need for a bank account.