Flipkart consolidates financial offerings with Flipkart Pay
By consolidating financial offerings, Flipkart aims to increase efficiency and optimise the usage of its fintech suite.
Walmart-owned Flipkart has included financial and payments offerings on the app in a consolidated fintech platform, Flipkart Pay, in an attempt to optimise efficiency ahead of the festive season.
Flipkart Pay includes financial products and payment options including gift cards and Flipkart Axis Bank co-branded credit card, which is used by over 4 million users, according to a press note.
The fintech suite also includes Flipkart Pay Later, which enables customers to shop with flexible payment options via EMIs, as well as Flipkart UPI, insurance products, and recharges and bill categories, it added.
The company recently added Google as an investor in its latest round of funding, which was led by US-listed Walmart. According to media reports, Flipkart raised $950 million in the latest round, with Google pitching in $350 million in the company taking its valuation to $36 billion.
Flipkart has been looking to launch its own quick commerce segment to take on industry leaders like BlinkIt, Zepto, and Instamart. It also plans to scale up its key segments like Shopsy and Cleartrip.
Edited by Kanishk Singh
