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Flipkart launches its own UPI to boost digital payment offering

By Gloria Mathias

March 04, 2024

  • Digital Payments
  • fintech India
  • Fintech news
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Flipkart, UPI, Unified Payments Iterface, Fintech News, Fintech India, Fintech Solutions, Digital Payments, Fintech News, Global Fintech News, Flipkart, India’s homegrown eCommerce marketplace, has launched its UPI handle to further enhance its digital payment offerings for all customers.

For a distinctive customer experience, loyalty features like Supercoins, Cashbacks, Milestone Benefits, and brand vouchers will be made available post-UPI launch. This secure solution marks a leap forward in enhancing the overall payment experience for users across India.

Powered by Axis Bank, Flipkart UPI will initially be available for Android users. Customers can register for UPI with the @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.

With UPI emerging as the preferred payment option, the launch of Flipkart UPI will provide convenience and zero-cost solutions, democratising access to seamless payment options. The UPI offering will enable smooth onboarding and allow users to conveniently avail of the feature for online and offline merchant transactions within and outside of the Flipkart marketplace.

Flipkart UPI stands poised to impact India’s digital payments system, aligning with the vision of the digital economy while strategically addressing the surging adoption of digital payments and providing an opportunity for millions of new users to avail themselves of the advantages of the UPI ecosystem.

Dheeraj Aneja, Senior Vice President of FinTech and Payments Group at Flipkart, said, “Recognising the dynamic digital landscape, the launch of Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us. At Flipkart, we are committed to delivering the best-in-class commerce experience to customers by offering safe and convenient payment options along with a wide array of rewards and benefits, such as supercoins, brand vouchers, and others. Furthermore, Flipkart UPI underscores our dedication to shaping a digitally empowered society and reaffirms our role as a leading catalyst in India’s digital evolution.”

Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, said, “Axis Bank has always been at the forefront of extending multiple payment flows of UPI to its customers. We continue to scale our growth in UPI with partnerships and innovations. Our partnership with Flipkart has come a long way from launching one of India’s most successful co-branded credit cards to now launching the Flipkart UPI service.”

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