has launched its own Unified Payments Interface (UPI) app called Super.Money, over a year after separating from WalMart-backed fintech .
Super.Money, currently in beta mode, will be initially available to just 100,000 users, its website said. The app is currently available for download on Google Play Store.
According to the app description, it will also offer credit on UPI issued in partnership with Utkarsh Small Finance Bank. The app description also lists Axis Bank and IndusInd Bank as banking partners.
The app will offer up to 5% “real cashback” on transactions instead of “useless rewards”, according to its description.
In July last year, Flipkart announced a partnership with Axis Bank to provide its customers access to loans up to up to Rs 5 lakh. The company also has a lending programme for merchants.
Walmart-owned ecommerce digital payments unicorn PhonePe announced full ownership separation from Flipkart in December 2022.
PhonePe is the largest UPI app in India, processing nearly 50% of all transactions on the network.
Edited by Jyoti Narayan
