Flipkart’s fintech venture, Super.Money, has launched a beta version of its mobile app which aims to provide services like payments, credit, deposits, and other digital financial services. The app went live on Sunday (June 23, 2024) on the Android app store.
Beta versions are usually tested by a select group of users before being released to the wider public.
Features of Super.Money
Super.money provides “credit as fast as UPI” in collaboration with Utkarsh Small Finance Bank, along with partnerships with Axis Bank and IndusInd Bank.
One standout feature of the app includes offering up to 5% “real cashback” on transactions, making it a user-friendly choice among rewards-oriented financial services.
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Super.money aims to revolutionize how people interact with and use financial services by offering a clean user experience and attractive rewards for every transaction.
The team behind super.money plans to gather and evaluate customer feedback over the next few weeks to enhance the product even further.
Prakash Sikaria, Founder & CEO of super.money, expressed his enthusiasm regarding the launch of their latest venture, highlighting the potential for groundbreaking advancements in digital payments.
He pointed out the dynamic evolution of the digital payments and financial services sector, outlining the vast opportunities for innovation ahead.
He further highlighted that super.money’s goal is to make financial services accessible to everyone by utilizing the UPI infrastructure, in line with the Government’s vision of inclusive finance. Sikaria also hinted at the imminent release of several innovative products currently in the works.
Also Read: Groww User Claims Money Debited but not Invested in Parag Parikh Mutual Fund; Company Responds
Background and Future Plans
In July of last year, Flipkart collaborated with Axis Bank to provide loans of up to Rs 5 lakh to its customers. Additionally, the company operates a lending initiative for merchants, expanding its range of financial services.
PhonePe, India’s leading UPI app, announced its complete separation from Flipkart in December 2022. PhonePe manages nearly half of all UPI transactions in India, underscoring the competitive environment that super.money is entering.
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