E-commerce firm Flipkart has launched its UPI (Unified Payments Interface) handle to further enhance its digital payment offerings for all customers. These include Flipkart’s over 500 million customers. For a distinctive customer experience, loyalty features like Supercoins, Cashbacks, Milestone benefits, and brand vouchers will be made available post the UPI launch. Powered by Axis Bank, Flipkart UPI will initially be available for Android users. Customers can now register for UPI with the @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.
“Flipkart UPI underscores our dedication to shaping a digitally-empowered society and reaffirms our role as a leading catalyst in India’s digital evolution,” said Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart.
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. It also introduces one-click and quick functionalities for recharges and bill payments, enhancing overall payment efficiency for the users.
In 2023, UPI processed over 117 billion transactions worth Rs 182.84 trillion. Flipkart said that this showcases a dynamic landscape with participation from banks, payment service providers, and fintech companies.
“We continue to scale our growth in UPI with partnerships and innovations,” said Sanjeev Moghe, President & Head – Cards & Payments, at Axis Bank. “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.”
First Published: Mar 03 2024 | 3:15 PM IST