Flipkart, a prominent e-commerce company, has introduced a comprehensive payments interface application called Super.Money. This app aims to provide users with a range of digital financial services, including payments, credit, deposits, and more.
During the beta phase, the app will be accessible to an initial group of 100,000 users. The app is currently operational in collaboration with Axis Bank and also provides credit services in association with Utkarsh Small Finance Bank. According to the company’s website, DMI Finance and Credit Saison are additional financial partners of Super.Money.
In addition, the application provides incentives such as vouchers, scratch cards, or cash to users who make UPI payments.
Read also – Propelld Partners with 5 Universities to Provide Collateral-free Student Loans
The development occurred 18 months after the separation of Flipkart and PhonePe, the dominant UPI app in India with about 50% market share. It is important to note that Flipkart has its own UPI handle integrated within the shopping app.
Flipkart introduced its own UPI services in March, enabling users to establish their own UPI handle for both online and offline merchant transactions. According to the data from NPCI, the application recorded 4.44 million transactions amounting to Rs 251 crore in May. Amazon Pay, the main competitor, conducted a total of 68.34 million transactions in the previous month.
About Flipkart
Founded in 2007 by Binny Bansal, Sachin Bansal, The Flipkart Group is one of India’s leading digital commerce entities and includes group companies Flipkart, Myntra, Flipkart Wholesale, Flipkart Health+ and Cleartrip
Want to go deeper into the world of startups and entrepreneurship? Check out these categories on VIESTORIES:
Startup Success Stories: Discover inspiring tales of startups overcoming challenges and achieving success.
Funding Startup News: Stay updated with the latest news and trends in startup funding and investment.
Startup Insights: Dive into in-depth analyses of various industries and market trends to make informed business decisions.
