Flipkart Joins UPI Movement

  • E-commerce giant Flipkart has launched its own Unified Payments Interface (UPI) service. This will allow users to make online and offline payments within and outside the Flipkart app.
  • Customers can set up their own UPI handle for transactions. This includes e-commerce purchases, scan-and-pay options, recharges, and bill payments.
  • Flipkart aims to offer a distinctive customer experience by integrating loyalty features. This includes Supercoins, cashback, brand vouchers, and milestone benefits.
  • The move comes as India's digital payment landscape thrives, with UPI processing over 117 billion transactions in 2023. Flipkart joins existing players like Paytm and PhonePe in this growing market.
  • Analysts believe Flipkart's UPI service could further accelerate digital payment adoption in India. It also signifies the company's commitment to expanding its reach beyond just e-commerce.

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