Flipkart rolling out own payments app 'Super.money'

New Delhi, June 24 (IANS) E-commerce giant Flipkart has started rolling out its own payments app Super.money, in a fintech push, over a year and a half after separating from PhonePe.

Now live in beta on the Play Store, the new app allows users to make mobile payments via UPI, reports TechCrunch on Wednesday.

"With an uncluttered UX and focus on great rewards for every transaction, super.money intends to change the way people engage with and consume financial services," a Super.money spokesperson was quoted as saying.

"The super.money team will continue to assess customer feedback in the coming weeks and improve the product further," it added.

As per the Android app’s description, the app promises "real cashback" on transactions and not "useless rewards" for paying, sending, or receiving money via the app.

"The landscape of digital payments and financial services is evolving rapidly, presenting incredible opportunities for innovation," Prakash Sikaria, founder and chief executive of Super.money, was quoted as saying.

"Super.money aims to democratise access to financial services by leveraging UPI infrastructure, which is aligned to the government’s larger vision of financial inclusion," he added.

The company also plans to expand its offerings to include secured cards and lending, according to descriptions inside the app.

The app identifies DMI Finance, Axis Bank and Credit Saison India among its partners on its website.

Meanwhile, Google has invested nearly $350 million in Flipkart, taking the homegrown company's valuation to nearly $36 billion. In a statement, Flipkart said it has added Google as a "minority investor" in the e-commerce platform as part of the latest funding round led by Walmart.

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