Junio: A Pocket Money and Payments App for Students

Junio: A Pocket Money and Payments App for Students – Pocket money is a common practice among parents to teach their children the value of money and financial responsibility. However, in the digital age, cash is becoming less convenient and more risky. How can parents give their children pocket money in a safe and smart way? The answer is Junio, a pocket money and payments app for students.


Details of the startup:

  • CITY : Delhi
  • STATE : Delhi
  • STARTED IN : 2020
  • FOUNDERS : Ankit Gera and Shankar Nath

You can find their website here.

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What is Junio and How Does it Work?

Junio is a pocket money and payments app that allows parents to give their children digital pocket money and allows students to make online and offline payments using a personalized Junio RuPay card. Junio is trusted by over 2 million students in India for their day-to-day payments.

Junio was founded in 2020 by Shankar Nath and Ankit Gera, two former Paytm executives, who wanted to create a platform that would help parents and children manage their money better. The name Junio, which means young in Latin, reflects the app’s focus on the young generation.

Junio’s vision is to provide a pocket money and payments solution that is simple, secure, and fun. The app has various features that make it easy and enjoyable for students to use, such as:

  • Instant transfers: Students can receive pocket money from their parents directly in their Junio account anytime, anywhere. They can also send money to their friends and family from their Junio balance.
  • Allowance: Parents can set up weekly or monthly pocket money for their children and automate the transfers. They can also set limits and rules for their children’s spending.
  • Tasks: Parents can assign household or educational tasks to their children and reward them with extra pocket money. This helps children earn money while learning new skills and habits.
  • Streaks: Students can earn pocket money by completing daily or weekly streaks, such as checking in on the app or loading money. They can also win monthly mega prizes, such as smartphones, gaming consoles, smart watches, and more.
  • Brand vouchers: Students can save up to 15% on their favorite brands, such as Zomato, Flipkart, Nykaa, MakeMyTrip, BookMyShow, Decathlon, and more, by buying brand vouchers on the app. They can use these vouchers to pay on the brand stores and websites.
  • Offers and rewards: Students can earn cashback and rewards on adding and spending money on the app. They can also refer their friends to join the app and earn money for each successful referral.
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How to Get Started with Junio?

Getting started with Junio is easy and quick. Here are the steps to set up a Junio account and card for students and parents:

  • For students:
    • Download the Junio app and register your mobile number.
    • Invite your parent to complete their KYC (Know Your Customer) verification.
    • Request or add money in your account via UPI or any other payment method.
    • Your Junio account and your virtual Junio card are now ready to use.
    • You can also order your physical card, which will be delivered to you in 7 days or less.
  • For parents:
    • Download the Junio app and register your mobile number.
    • Complete your KYC verification and add your child.
    • Load some money in your child’s Junio account.
    • Your child’s account and their virtual Junio card are now ready to use.
    • You can also order a personalized physical Junio card for your child.

Why Choose Junio?

Junio is not just another payments app. It is a pocket money and payments app that is designed for students and parents. Junio has many benefits and advantages over other apps, such as:

  • Safety and security: Junio is powered by RuPay, which is a secure and reliable payment network. Junio also uses advanced encryption and authentication methods to protect the data and privacy of the users. Junio cards are prepaid and have no overdraft or interest charges. Parents can also block or unblock the cards anytime from the app.
  • Convenience and flexibility: Junio is compatible with all online and offline merchants that accept RuPay cards. Junio also supports multiple payment methods, such as UPI, debit card, credit card, net banking, and wallet. Junio cards are personalized and can be used by students to show their identity and age proof.
  • Education and fun: Junio is not only a payments app, but also an educational app. Junio helps students learn financial literacy and responsibility from an early age. Junio also makes pocket money and payments fun and rewarding for students. Junio has a gamified interface and a vibrant community of users.
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The Future of Junio

Junio is a young and ambitious startup that has made a remarkable journey in a short span of time. Junio has grown from a simple idea to a popular app that has millions of users and transactions. Junio has also received funding and support from various investors and organizations, such as Sequoia Capital, Nexus Venture Partners, Blume Ventures, and the Atal Innovation Mission.

Junio’s future looks bright and promising, as it continues to innovate and improve its product and service offerings. Junio aims to become the leading pocket money and payments app in India, and also expand to other markets in the future. Junio is an example of how the best of technology and the best of creativity can come together to create a platform that empowers the users and creators.

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