Super.Money Empowers Your Finances with Its Groundbreaking Mobile App
Super.Money, the fintech venture of Flipkart, a significant ecommerce company, has released a beta version of its mobile application on the Android app store. The platform will provide a variety of digital financial services, including deposits, credit, and remittances. A beta version is typically introduced to a restricted user base for testing purposes prior to being made available to the general public. The Bengaluru-based fintech startup, which is entirely backed by Flipkart, is collaborating with Axis Bank, IndusInd Bank, and Utkarsh Small Finance Bank to provide a variety of financial services.
Flipkart is entering the fintech sector with Super.Money, nearly two years after it divested itself of its initial fintech venture, PhonePe. In collaboration with Axis Bank, Super.Money is currently operational on the Unified Payments Interface, an immediate digital payments platform.
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Empower Your Financing: Instant Credit Access with Super.Money and Utkarsh Small Finance Bank
Credit products were being prepared for launch through Super.Money by Flipkart. ET initially reported in May 2023 that Flipkart had hired Prakash Sikaria to oversee Super.Money and develop the platform internally. The ecommerce behemoth, which is funded by Walmart, allocated approximately $20 million to the initiative last year.
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Super.Money indicated in its app store listing that it would be collaborating with Utkarsh Small Finance Bank to facilitate credit on UPI. It will also entitle customers to establish fixed deposit accounts with banks and provide pre-approved credit offers through its lending partners. In the future, the organization will introduce secured credit cards. The sector is anticipated to experience new product introductions and innovations as a result of Flipkart’s expansion into payments and credit.
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