Flipkart unveils new UPI payment platform in collaboration with Axis Bank By Elets News Network - 04 March 2024

Flipkart

Flipkart has recently unveiled its own Unified Payment Interface (UPI) handle, aiming to enrich the digital payment landscape for its customers. This novel Flipkart UPI initiative is crafted to bolster the nation’s digital economy, offering users the capability to create their handles for both online and offline transactions, extending beyond the boundaries of the Flipkart marketplace.

The introduction of Flipkart UPI marks a significant stride towards providing a fluid experience for customers, enabling direct payments for goods, services, and transactions with merchants via the Flipkart application.


The benefits accompanying Flipkart UPI include:

Supercoins
Cashback offers
Brand vouchers
Milestone rewards

These features stand testament to its slogan, ‘India’s Most Rewarding UPI’. Launched in partnership with Axis Bank, the service is presently accessible to Android users. It empowers them to set up UPI handles with the @fkaxis suffix, facilitating smooth fund transfers and payment processes during checkout.


Read more: Flipkart introduces the metaverse shopping experience with Flipverse 

Dheeraj Aneja, the Senior Vice President of Fintech and Payments Group at Flipkart, emphasized the company’s dedication to enhancing the commerce experience through safe and convenient payment methods, alongside a plethora of rewards and benefits. He reiterated Flipkart UPI’s role in fostering a digitally empowered society and its pivotal position in India’s digital transformation journey.

Sanjeev Moghe, President & Head of Cards & Payments at Axis Bank, highlighted the bank’s ongoing commitment to integrating various UPI payment flows for its customers. He underlined the longstanding partnership with Flipkart, evolving from the launch of a highly successful co-branded credit card to the introduction of the Flipkart UPI service. This cloud-hosted solution promises a robust and scalable UPI platform for users.

The debut of Flipkart UPI arrives amid a surge in digital payment adoption in India, promising unmatched convenience and cost-free services to users. It introduces single-click options for recharges, bill payments, and online purchases, thereby elevating payment efficiency. The collaboration between Flipkart and Axis Bank marks a significant milestone, propelling tech innovation and meeting societal demands.

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