India, Nov. 6 -- Fintech startup Junio Payments has secured an in-principle authorisation from the Reserve Bank of India (RBI) to issue prepaid payment instruments (PPIs). The startup said that the RBI nod serves a key regulatory milestone and paves the way for it to launch its own digital wallet.

With this clearance, Junio plans to roll out a wallet linked to UPI, allowing users to scan any UPI QR code and make payments even without a bank account. The wallet will primarily serve children, teens, and parents, integrating convenience with financial learning.

For context, PPIs enable users to purchase goods and services, transfer funds, or make remittances against the value stored in the instrument. By gaining this nod, Junio joins a sel...