Flipkart, the leading e-commerce giant, has launched its own payments app called Super.money, marking a significant step into the fintech arena following its separation from PhonePe over a year and a half ago. Currently available in beta on the Play Store, the app enables users to conduct mobile payments through UPI, as reported by TechCrunch on Wednesday.
According to a spokesperson from Super.money, the app features a user-friendly interface focused on providing substantial rewards with each transaction, aiming to redefine user interactions with financial services.
The spokesperson mentioned that they would actively collect user feedback in the coming weeks to improve the app even more.
The app emphasizes offering "real cashback" instead of "useless rewards" for activities such as payments, transfers, and receipts through its platform, as stated in its Android app description.
Prakash Sikaria, the founder and CEO of Super.money, highlighted the rapid evolution of digital payments and financial services, underscoring the app's goal to promote financial inclusion by leveraging the UPI infrastructure aligned with the government's vision.
Super.money also plans to expand its services to include secured cards and lending options, as indicated on its app descriptions. The company lists partners such as DMI Finance, Axis Bank, and Credit Saison India on its website.
In related news, Flipkart recently announced an investment of nearly $350 million from Google, which has now become a minority investor in Flipkart. This investment is part of Flipkart's latest funding round led by Walmart, elevating the company's valuation to approximately $36 billion.
The collaboration with Google and the launch of Super.money signal Flipkart's strategic move to strengthen its foothold in both e-commerce and financial technology sectors, poised to cater to evolving consumer needs in India's digital economy.