CosmicTaco

Flipkart Group Launches New Payments App, super.money, Targeting First-Time Borrowers

CosmicTaco · 2024-08-22T08:36:52.318603+05:30

- Flipkart has introduced a new payments app, super.money, to facilitate UPI payments and offer cashback, aiming to strengthen its position in the fintech sector. - The app, launched in beta in June, has already processed 10 million transactions and achieved 1 million downloads, offering up to 5% cashback on merchant transactions. - Super.money plans to introduce a credit on UPI feature, partnering with NPCI for a co-branded credit card, targeting borrowers from tier 2 and tier 3 cities. - Prakash Sikaria, CEO of super.money, emphasized the focus on first-time borrowers who have never had an unsecured credit card, aiming to formalize credit for this group. Source: [Live Mint](https://www.livemint.com/companies/start-ups/flipkart-group-payments-app-super-money-phonepe-credit-on-upi-first-time-borrowers-11724238836382.html)

Flipkart has introduced a new payments app, super.money, to facilitate UPI payments and offer cashback, aiming to strengthen its position in the fintech sector.
The app, launched in beta in June, has already processed 10 million transactions and achieved 1 million downloads, offering up to 5% cashback on merchant transactions.
Super.money plans to introduce a credit on UPI feature, partnering with NPCI for a co-branded credit card, targeting borrowers from tier 2 and tier 3 cities.
Prakash Sikaria, CEO of super.money, emphasized the focus on first-time borrowers who have never had an unsecured credit card, aiming to formalize credit for this group.

Source: Live Mint