Flipkart UPI: Flipkart Launches UPI Service For Online And Offline Payments

Flipkart introduces its Unified Payments Interface (UPI) service in collaboration with Axis Bank, targeting online and offline payments. The service, available for Android users via the Flipkart app, allows creation of new UPI IDs for fund transfers and in-app payments. With 500 million registered users and 1.4 million sellers, Flipkart aims to tap into a vast user base. Ecommerce company Flipkart on Sunday launched its UPI services, Flipkart UPI, in partnership with Axis Bank. Flipkart UPI will initially be available for Android users, the company said. Loyalty features such as Supercoins, cashback, milestone benefits and brand vouchers will be made available after the UPI launch, it added. Flipkart has been testing its UPI offering since last year. The service will allow its users to make UPI payments without switching to other applications. Consumer internet companies introducing their own UPI offerings is significant in the context of the National Payments Corporation of India (NPCI) trying to reduce UPI’s over-reliance on a few players.