Walmart’s Flipkart, a big online shopping site, has started its payment system called Flipkart UPI. This lets users make transactions easily, both on Flipkart and outside of it. The aim is to make payments smoother for its many users, including 500 million registered users and 1.4 million sellers.
With Flipkart UPI integrated into its app, company wants to simplify buying things, paying bills, and sending money to friends. They said this in their statement. They have partnered with Axis Bank to create the ‘@fkaxis’ UPI handle. Also, they are launching a new financial platform called Super Money. This will offer services like loans and insurance.
By doing this, Flipkart is competing directly with other payment apps like Google Pay, PhonePe, Paytm, and Amazon Pay. They want people to use their payment system instead of these third-party apps. This way, users don’t have to switch between different apps for making payments.
This move by Flipkart shows a bigger trend where online shopping sites are getting into finance too. They want to be a one-stop destination for everything, from shopping to banking. Flipkart’s UPI service is part of this trend, showing their dedication to making things easier for customers.
Last year, Zomato, a food delivery app, also started its own UPI services with ICICI Bank. This shows that more and more companies are moving into the payment space. It’s all about giving users more options and making transactions faster and more convenient.
