Flipkart has announced the launch of its new UPI service, developed in partnership with Axis Bank. The service is set to debut exclusively for Android users initially, according to the company’s statement.
India’s E-commerce giant Flipkart has introduced its Unified Payments Interface (UPI) service, enabling users to make online and offline payments directly within its app. With over 50 crore registered users and 14 lakh sellers on its platform, Flipkart aims to reduce reliance on third-party UPI apps like Paytm, PhonePe, Google Pay, and Amazon Pay.
Dheeraj Aneja, Senior Vice President of Fintech and Payments Group at Flipkart, highlighted the seamless integration of UPI’s convenience and cost-effectiveness with Flipkart’s trusted efficiency. Users can now create a UPI ID within the Flipkart app to make payments to merchants, individuals, and settle bills without switching apps.
The service, launched in collaboration with Axis Bank, is initially available exclusively for Android users, according to a statement from the company.
Aneja emphasized Flipkart’s dedication to providing customers with a top-notch commerce experience, boasting safe and convenient payment options coupled with various rewards like Supercoins and Brand Vouchers. This in-house UPI facility will extend across Flipkart group entities, including Myntra, Flipkart Wholesale, Flipkart Health+, and Cleartrip.
Sanjeev Moghe, President and Head of Cards & Payments at Axis Bank, highlighted the bank’s commitment to expanding its UPI offerings through partnerships and innovations. He noted the progression from launching co-branded credit cards to now introducing the Flipkart UPI service.
E-commerce competitors have also been leveraging UPI handles to enhance customer service and avoid redirection to third-party payment apps. Zomato recently launched its UPI service, while Amazon and Tata Neu have been offering similar services for some time. Additionally, platforms like WhatsApp and MakeMyTrip have their UPI handles as well.
In February, UPI transactions totaled 1,210 crore with a value of Rs 18.3 lakh crore, marking a significant 61 percent increase from the same period last year.