Super.Money is being launched by Flipkart, one of India’s leading e-commerce platforms. The new payment app is now available on the Play Store as a beta version.
This new app has the same base features as any other payment app. Users can make payments through the Unified Payments Interface (UPI). super.money offers users real rewards for paying, receiving and sending money through their app. This offer by the new app makes it stand out from other payment apps as most apps usually give users ‘useless’ rewards for using their apps to make payments. The app may also offer perks for lending and secured cards in the future.
The Flipkart-owned app is partnered with DMI Finance, Credit Saison, Axis Bank, Cleartrip and Myntra.
super.money now joins the payment app market with competitors such as PhonePe, GooglePay, Paytm and more.
Founder and CEO of Super.Money, Prakash Sikaria stated, “The landscape of digital payments and financial services is evolving rapidly, presenting incredible opportunities for innovation. 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. We have been working on several exciting products that we will launch soon.”
Super.Money: Before the launch
Flipkart previously owned a stake in PhonePe in 2016, regarded as one of India’s largest payment apps. However, the two later split in 2022 after PhonePe declared its desire to part ways with the e-commerce platform in 2020. PhonePe wanted to become a separate entity. However, Walmart is still the main shareholder in both groups
Kalyan Krishnamurthy, CEO of Flipkart stated, “The Flipkart Group has developed many successful entrepreneurs and seen impactful businesses started by former employees.”
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