Online shopping platform, Flipkart, has announced its foray into digital payment interface market with its newly launched Flipkart UPI on Sunday. The United Payment Interface (UPI) will allow the users to make digital transactions through the flipkart app on their phone, much like Google Pay or Paytm. Flipkart announced that the platform will initially be available to android users only. Flipkart UPI will take the fight to its rival Amazon, who uses the similar UPI app Amazon Pay besides other platforms like Paytm, Phonepe and Google Pay.
Flipkart launched its UPI handle in partnership with Axis Bank. Although UPI transactions were available on shopping app, this will allow the users to make UPI payments without switching apps. Loyalty features such as Supercoins, cashback, milestone benefits and brand vouchers will be made available after the UPI launch, it added.
Flipkart launching its own UPI offerings after Amazon is a significant development in context of National Payments Corporation of India (NPCI) trying to reduce a few companies’ supremacy over UPI. This follows Flipkart’s demerge with PhonePe in late 2022, which had initially acquired in 2016.
How to use Flipkart UPI:
Open the Flipkart app and tap on the Flipkart UPI banner. There, add your bank account details linked with UPI just like on PhonePe or Paytm. After completing the verification process, the app will be ready to make digital payments with just a few taps on your phone. You can make payments for purchases made with the app itself and at shops by scanning the available QR code. It can also be used to pay your contacts as you would with Google Pay or Paytm along with bill payments and mobile recharges.