🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Junio receives RBI approval to issue prepaid payment instruments

EntrackrEntrackr · 4m ago
Junio receives RBI approval to issue prepaid payment instruments
Medial

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 capability aligns closely with the UPI Circle initiative launched by NPCI, enabling youngsters to make UPI payments using their parents’ linked UPI accounts. Founded by Ankit Gera and Shankar Nath, Junio has been at the forefront of creating a unique digital ecosystem tailored for young users. The Junio app, along with its RuPay co-branded physical and virtual prepaid cards, empowers parents to transfer money, set spending limits, assign tasks or allowances, and monitor financial activity in real time. “Prepaid wallet is more powerful now as it can be linked for UPI payments. Our focus is on innovation that balances freedom with guidance—ensuring every digital transaction becomes a step toward independence, literacy, and trust,” said Ankit Gera, co-founder of Junio Payments. The Junio app, trusted by over 2 million students and young professionals, creates a safe, cashless, and educational payment environment for India’s digital-native youth. It supports online and offline purchases, tap & pay, and NCMC-enabled transit payments.

Related News

Infibeam Avenues gets RBI nod to issue prepaid payment instruments

EntrackrEntrackr · 4m ago
Infibeam Avenues gets RBI nod to issue prepaid payment instruments
Medial

Snippets Infibeam Avenues gets RBI nod to issue prepaid payment instruments Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company has obtained approval from RBI to issue PPIs under the Payment and Settlement Systems Act, 2007. Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company informed the exchanges that it has obtained in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs) under the Payment and Settlement Systems Act, 2007. According to the filing, the RBI’s approval permits Infibeam Avenues to issue and operate prepaid payment instruments, subject to submission of a System Audit Report (SAR) within the prescribed validity period. This move marks the company’s entry into the regulated PPI space, enabling it to expand its fintech offerings across wallets, prepaid cards, and stored-value payment solutions. On the same day, Infibeam’s wholly owned subsidiary, IA Fintech IFSC Private Limited, also received in-principle approval from the International Financial Services Centres Authority (IFSCA) to act as a Payment Service Provider (PSP) in GIFT-IFSC. The subsidiary is now authorized to carry out Escrow Service, Cross Border Money Transfer Service, and Merchant Acquisition Service. During the first quarter of the ongoing fiscal year, the company’s revenue from operations rose to Rs 1,280 crore in Q1 FY26, up from Rs 745 crore in Q1 FY25. The company’s net profit declined 16% to Rs 58.4 crore in Q1 FY26 from Rs 69.4 crore in the same period last year. Infibeam is yet to file its financial results for the second quarter. Infibeam’s share price is currently trading at Rs 19.40 per share (as of 10:30 AM), giving the company a market capitalization of Rs 5,425 crore.

CRED receives final authorisation from RBI to operate as a payment aggregator

EntrackrEntrackr · 5d ago
CRED receives final authorisation from RBI to operate as a payment aggregator
Medial

CRED receives final authorisation from RBI to operate as a payment aggregator Reserve Bank of India has granted final authorisation to CRED to operate as a Payment Aggregator (PA). The approval allows the company to onboard merchants, process payments on their behalf and manage settlements and refunds across payment instruments. The authorisation has been granted to Dreamplug Paytech Solutions Private Limited, the entity operating CRED’s payment business. With this approval, the company will operate the payment system directly under the regulator’s supervision. The final authorisation comes nearly two years after the in-principle approval granted by the RBI. CRED and its subsidiaries now hold multiple regulatory licences. These include a Prepaid Payment Instrument (PPI) licence from the RBI, a corporate agency licence from the Insurance Regulatory and Development Authority of India, a registered investment advisor licence from the Securities and Exchange Board of India, and a TPAP licence from the National Payments Corporation of India. During FY25, CRED processed payments worth over Rs 8.5 lakh crore on behalf of more than 1.5 crore users. The company says more than one-third of credit card bill payments in India are currently made through its platform. Founded by Kunal Shah, CRED enables users to manage credit card payments, track credit scores, and monitor financial activity across accounts through its platform.

Download the medial app to read full posts, comements and news.