Junio, a kid-focused FinTech startup that allows children to make secure offline and online payments, has launched a smart multi-purpose card for pre-teens and teenagers on the RuPay platform. The ‘Junio RuPay Card’ is thoughtfully designed for kids that can function as a debit card for both their online and offline purchases.
Speaking on the development, Mr. Ankit Gera, Co-Founder, Junio said, “With digital payments taking centre stage like never before since the outbreak of the pandemic, the Junio app/ card has seen significant adoption among children and parents. We are committed to enhancing the hassle-free payment experience for them. The newly launched Junio Smart Card powered by RuPay will allow youngsters to make online and offline payments with ease. We are already seeing increased acceptance of the card across the merchant network, given the robustness of the RuPay platform.”
Mr. Nalin Bansal, Chief Relationship Management and Key Initiatives, NPCI said, “We are glad to power the Gen-Z teen based Fintech Junio with the trusted RuPay network. This Smart RuPay card will help young children in streamlining their expenses under the aegis of their parents. We believe this card will also empower young teens to carry out digital transactions at an early stage in their life. We are witnessing strong demand and popularity of RuPay cards amid the younger population – thereby making RuPay the most preferred payment mode for all customer segments.”
Kids and parents can sign-up on the Junio app, and use virtual Junio smart cards with zero annual charges. In addition, children can enjoy up to 7% cashback and other reward benefits on Junio payments. The company’s idea is to nurture healthy financial habits among kids from an early age and help them grow as financially independent adults.
Junio was launched earlier this year, and the app already has over half a million downloads on the Play Store. The company has raised USD 2 million earlier in the year from marquee tech entrepreneurs such as Yashish Dahiya, Ashneer Grover, Kunal Shah and Deepak Abbot.