Flipkart has launched its UPI solution for both online and offline payments within the app and across other platforms.
Collaborating with Axis Bank, the e-commerce giant said that the service would first be offered to Android users. The move is regarded as an attempt to lessen reliance on third-party UPI programmes such as Google Pay, PhonePe, and its e-commerce rival Amazon’s Amazon Pay.
“Recognizing 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,” stated Dheeraj Aneja who is the Senior Vice President, Fintech and Payments Group at Flipkart.
UPI service to be offered through its sibling firms
Flipkart’s UPI solution will be offered through its sibling firms Myntra, Cleartrip, Flipkart Health+, and Flipkart Wholesale.
According to reports, the company’s marketplace has over 50 crore registered customers and 14 lakh dealers. Customers may use the Flipkart app to generate a UPI ID and make payments to businesses and people, as well as pay bills, without switching applications.
Axis bank- always on the forefront
“Axis Bank has always been in the forefront of offering numerous UPI payment flows to its clients. We continue to expand in UPI via collaborations and innovations. Our cooperation with Flipkart has progressed from introducing one of India’s most successful co-branded credit cards to the introduction of the Flipkart UPI service,” said Sanjeev Moghe, President and Head, Cards & Payments, Axis Bank.
E-commerce companies have begun creating UPI handles to better serve their clients and prevent referral to third-party payment apps.
Zomato, a leading food delivery company, has launched its UPI service, although competitors Amazon and Tata Neu have been doing so for some time. WhatsApp and MakeMyTrip have their own handles.
