Flipkart Launches Flipkart UPI in Partnership with Axis Bank, Expanding Payment Options for Users

Flipkart Launches Flipkart UPI in Partnership with Axis Bank, Expanding Payment Options for Users

Flipkart Launches Flipkart UPI in Partnership with Axis Bank, Expanding Payment Options for Users

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E-commerce giant Flipkart has launched its UPI services, Flipkart UPI, in partnership with Axis Bank, marking a significant move in the context of the National Payments Corporation of India’s efforts to reduce UPI’s reliance on a few players. Initially available for Android users, Flipkart UPI will provide features such as Supercoins, cashback, milestone benefits, and brand vouchers after its launch.

The move comes after Flipkart’s demerger with PhonePe, the largest UPI player, in late 2022. The UPI offering aims to offer unparalleled convenience, zero-cost solutions, and democratized access to seamless payment options. 

Users can make UPI payments without switching to other applications and use the UPI handle “@fkaxis” for fund transfers and in-app payments within and outside the Flipkart marketplace.

Dheeraj Aneja, Senior Vice President of Fintech and Payments Group at Flipkart, emphasized the commitment to delivering a best-in-class commerce experience by providing safe and convenient payment options along with rewards and benefits like Supercoins and brand vouchers.

Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, highlighted the partnership’s evolution from co-branded credit cards to launching the Flipkart UPI service. The solution, hosted on the cloud, is touted to offer one of the most stable and scalable UPI platforms for customers. The collaboration aims to provide customers with a seamless and efficient UPI experience.

While Flipkart UPI is currently available for Android users, the company plans to extend its availability to iPhone users in the near future. The new UPI offering aligns with the growing trend of consumer internet companies introducing their own UPI services to contribute to a more diversified UPI landscape

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