- Flipkart launches Super.money, a UPI-based payments app.
- The e-commerce giant aims to democratize financial access and maintain its market lead.
- Flipkart plans to enter quick commerce next month, challenging Amazon India in urban areas.
Super.money‘s secret superpowers
Indian e-commerce giant Flipkart has quietly launched its own payments app, Super.money, as it expands its fintech ambitions more than a year and a half after separating from PhonePe.
The app, now live in beta on Play Store, allows users to make mobile payments via UPI, promising “real cashback” and not “useless rewards” for transactions.
Super.money plans to expand its offerings to include secured cards and lending, partnering with DMI Finance, Axis Bank, and Credit Saison India.
The e-commerce avenger with quick commerce dreams
Prakash Sikaria, founder and chief executive of Super.money, emphasizes the app’s aim to democratize access to financial services by leveraging UPI infrastructure, aligning with the government’s vision of financial inclusion.
Flipkart maintains a leading position in India’s e-commerce market, serving more than twice the daily active users of Amazon India, its main rival.
The company plans to launch quick commerce services as early as next month, aiming to challenge Amazon India’s stronghold in urban cities.
