Junio gets RBI approval to operate as PPI provider
06 Nov 2025, 12:50 PMThe approval paves the way for Junio to roll out a digital wallet service integrated with the Unified Payments Interface (UPI).
Team Head&Tale
Share the story on
Junio Payments Pvt Ltd has received in-principle approval from the Reserve Bank of India (RBI) to operate as a prepaid payment instrument (PPI) issuer.
The approval paves the way for Junio to roll out a digital wallet service integrated with the Unified Payments Interface, said Junio in a statement.
This will then enable users to scan QR codes and complete transactions without holding traditional bank accounts—a significant accessibility boost for younger demographics.
The planned wallet feature complements the National Payments Corporation of India's UPI Circle program, which allows young people to conduct UPI transactions through their parents' linked accounts.
Junio, which was founded by Ankit Gera and Shankar Nath, says that it serves more than 2 million young users through its mobile application and co-branded RuPay prepaid cards—available in both physical and virtual formats.
The service helps parents to send funds, establish spending boundaries, allocate task-based allowances, and track transactions in real-time, creating a framework for developing sound financial habits from an early age.
"Receiving this preliminary authorization validates our approach to reshaping how young people interact with money," said Gera in the statement.
Junio, which is a 100% subsidiary of FirstPay Technologies Pvt Ltd, last raised $6 million in a pre-Series A round led by UAE-based NB Ventures.
Earlier in May, ZikZuk received in-principle approval from the RBI to issue PPI. In October last year, Cashfree received regulatory approval to operate as PPI provider.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
