Junio receives RBI approval to issue prepaid payment instruments

Junio Payments, a subsidiary of FirstPay Technologies, has received in-principle authorisation from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs).

According to Junio Payments, this marks a significant milestone in its journey to expand access to secure and innovative digital financial solutions designed especially for teenagers and young adults.

With this authorisation, Junio will soon introduce a digital Wallet linked to UPI, allowing users to scan UPI QR codes and make payments even without a bank account. This…