Flipkart UPI launched as e-commerce major's own unified payments facility: All you need to know

Flipkart UPI launched as e-commerce major's own unified payments facility: All you need to know

By HT News Desk, New Delhi

Mar 03, 2024 02:54 PM IST

Flipkart UPI has been launched in collaboration with Axis Bank.

Flipkart has launched its own Unified Payments Interface (UPI) services in collaboration with Axis Bank. The facility is called Flipkart UPI, and, its launch comes at a time when e-commerce companies have been launching their own UPI handles to service their customers better, and to avoid redirection to third-party apps for payments.

“Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us,” Dheeraj Aneja, Senior VP, Fintech and Payments Group, Flipkart, said in a statement.

“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,” Aneja added.

All you need to know about Flipkart UPI:

(1.) Flipkart UPI, which is for both online and offline payments within and outside the Flipkart app, will initially be available only for Android users.

(2.) To use the service, people must first create a UPI ID on the Flipkart app, after which they can make payments to merchants and individuals, in addition to paying bills without switching apps.

(3.) The facility will be spread across Flipkart group companies including Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.

(4.) Flipkart UPI will reduce dependence on third-party UPI apps such as Amazon Pay, Google Pay, Paytm, and PhonePe.

(5.) According to the e-commerce giant, its marketplace has more than 50 crore registered users and over 14 lakh sellers. Additionally, in February, as many as 1210 crore UPI transactions were made for a total value of ₹18.3 crore, rising 61% from the year-ago period.