Flipkart Launches UPI Handle for Digital Payments
Bengaluru, March 3 (IANS) E-commerce giant Flipkart has introduced its Unified Payments Interface (UPI) handle to expand its digital payment options for its 500+ million customers. This initiative aims to provide a seamless and convenient payment experience for online and offline transactions.
With Flipkart UPI, users can create their own UPI handle for a variety of transactions within and outside the Flipkart marketplace. The platform will offer exclusive loyalty features like Supercoins, Cashback, Brand Vouchers, and more to enhance the customer experience.
Customers can utilize Flipkart UPI on the Flipkart app to make payments for purchases, scan and pay transactions, and also for recharges and bill payments. The company has partnered with Axis Bank for the initial phase, allowing users to register for UPI with the @fkaxis handle for digital transactions through the Flipkart app.
Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart, highlighted the importance of this launch by stating, “Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us. We are committed to delivering the best-in-class commerce experience to customers.”
The introduction of Flipkart UPI also aims to promote a digitally-empowered society and enhance overall payment efficiency for users. The platform offers one-click functionalities for quick recharges and bill payments, along with a range of incentives such as instant refunds and rewards like Supercoins and Brand Vouchers.
According to reports, UPI processed over 117 billion transactions worth Rs 182.84 trillion in 2023, highlighting the significant role played by banks, payment service providers, and fintech companies in the digital payment landscape. Axis Bank President, Sanjeev Moghe, expressed pride in partnering with Flipkart for the UPI service, emphasizing the stability and scalability of the cloud-hosted solution for customers’ convenience.
