Flipkart introduces its UPI handle

Ecommerce platform Flipkart has launched the Flipkart Unified Payment Interface (UPI) as it takes on Amazon and also compete with Paytm and other payment services in India.

The service offers loyalty features such as supercoins, cashbacks, milestone benefits and branded vouchers to its over 500 million customers.

The UPI feature will facilitate seamless onboarding and facilitate convenient online and offline merchant transactions within and outside the Flipkart marketplace, the company said in a statement.

The system, according to the company, introduces quick and efficient features for recharges and bill payments, enhancing user efficiency.

"Recognising 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," Dheeraj Aneja, Senior Vice President - Fintech and Payments Group at Flipkart, said.

The UPI payment method can be used for various products and services on the Flipkart app, including ecommerce transactions, recharges, and bill payments.

Flipkart has tied up with Axis Bank to allow users to sign up for UPI through the Flipkart app using the @fkaxis handle in this first stage and is now available for Android users to register.

“Axis Bank has always been at the forefront of extending multiple payments flows of UPI to its customers. We continue to scale our growth in UPI with partnerships and innovations. Our partnership with Flipkart has come a long way from launching one of India's most successful co-branded credit cards to now launching the Flipkart UPI service," Sanjeev Moghe, President & Head - Cards & Payments, Axis Bank, said.

"Customers can now register for UPI with @fkaxis handle and can do all fund transfers and checkout payments using the Flipkart app. This solution is cloud hosted and hence provides one of the most stable and scalable UPI platforms for customers,” he further added.

In addition, Flipkart is also offering Rs 25 off the first purchase and 20 super coupons for the first five purchases made through Flipkart UPI.

With this new launch, Flipkart is set to compete with the most commonly used UPI apps Paytm, Amazon Pay, PhonePe, and BHIM.

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Flipkart, launched in 2007, is a digital commerce with over 150 million products across over 80 categories. It now has over 14 lakh sellers, including Shopsy sellers.

Recently, Flipkart announced the departure of four senior executives, including Ayyappan R, CEO of Cleartrip and SVP at Flipkart, Amitesh Jha, SVP Category and Marketplace, Bharath Ram, SVP Growth and Retention, and Dheeraj A, SVP Fintech and Payments, as reported by media outlets.

In January, Flipkart launched a same-day delivery service in February for 20 cities, allowing customers to place orders by 1 pm and receive them before midnight. The service will expand to other cities in the coming months and cover products like mobiles, fashion, beauty products, lifestyle, books, home appliances, and electronics.