E-commerce company Flipkart on Sunday launched its unified payments interface (UPI) services for online and offline payments. The Flipkart UPI, launched in partnership with Axis Bank, will initially be available for Android users, according to a company statement.
The move will allow Flipkart, which claims to have more than 50 crore registered users and 14 lakh sellers on its marketplace, to reduce dependence on third-party UPI apps such as Paytm, PhonePe, Google Pay and Amazon Pay.
“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,” Dheeraj Aneja, Senior Vice President, Fintech and Payments Group at Flipkart, said in the statement.
Loyalty features such as Supercoins, cashback, milestone benefits and brand vouchers will be made available after the UPI launch, it added.
Customers can create a UPI ID on the Flipkart app to make payments to both merchants and individuals and also pay bills without switching apps.
“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” Aneja said.
The in-house UPI facility will be spread across Flipkart group companies including, Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.
“Axis Bank has always been at the forefront of extending multiple payments 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,” Sanjeev Moghe, President and Head, Cards & Payments, Axis Bank, said.
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