Flipkart launches UPI handle to boost India’s digital economy

Bengaluru: E-commerce marketplace Flipkart on Sunday launched its Unified Payment Interface (UPI) handle to further improve digital payments for all its customers, including its over 500 million customers. With Flipkart UPI, customers can now create their own UPI handle for online and offline transactions within and outside the Flipkart marketplace. For a great customer experience, many benefits like Supercoins, Cashback, Brand Vouchers, Milestones and more will be provided after the UPI launch.
“On the Flipkart app, Flipkart UPI can be used to pay for any product or service, including e-commerce transactions, scanning the UPI ID, making payments, recharges and bill payments,” the company said in a statement. ” In its first phase, Flipkart has partnered with Axis Bank wherein customers can register for UPI with the handle @fkaxis for their digital transactions using the Flipkart app.
“Given the dynamic digital landscape, Flipkart seamlessly blends the convenience and cost-effectiveness of UPI that our customers have come to expect,” said Dheeraj Aneja, Senior Vice President, Fintech and Payments Group, Flipkart. “At Flipkart, we are committed to providing customers with a best-in-class experience by offering secure and convenient payment options along with SuperCoins, brand vouchers and a wide range of other benefits.” According to Aneja, “Flipkart UPI reflects our dedication to shaping a digitally empowered society and reaffirms our leading role as a catalyst in India’s digital growth.”
It also offers one-click and instant functionality for recharge and bill payments, increasing overall payment efficiency for customers. According to the company, with the tagline, ‘India’s Most Rewarding UPI’, the offering aims to provide customers with a host of great incentives including a seamless, secure and convenient digital payments experience and the benefit of instant refunds through its integrated checkout funnel. In 2023, UPI saw over 117 billion transactions worth Rs 182.84 trillion, showcasing a dynamic landscape with participation from banks, payment service providers and fintech companies. Sanjeev Moghe, President and Head – Cards and Payments, Axis Bank, said, “We continue our growth in UPI with partnerships and innovations. Our partnership with Flipkart has come a long way from launching one of India’s most successful co-branded credit cards to now launching Flipkart UPI service.” He said, “Customers can now register for UPI with the @FKaxis handle and make all fund transfers and checkout payments using the Flipkart app. “This solution is cloud hosted and hence offers one of the most stable and scalable UPI platforms to customers.”