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Flipkart Launches super.money UPI App: Rewards, Benefits and Setup Guide
Flipkart's new super.money UPI app offers real cashback rewards and seamless bank integration, revolutionizing the digital payments landscape.
The Flipkart group has unveiled its latest innovation in the digital payments realm, the super.money UPI app. This launch comes over a year after Flipkart's separation from the Walmart-backed fintech company PhonePe. Currently in its beta phase, super.money is available to an initial group of 100,000 users, who can download the app from the Google Play Store.
super.money UPI app: Rewards and Benefits
A standout feature of super.money is its promise of up to 5% "real cashback" on transactions. Unlike many financial apps that offer rewards of questionable value, super.money is committed to providing tangible benefits. Developed in collaboration with Utkarsh Small Finance Bank, the app delivers "credit with the speed of UPI." Axis Bank and IndusInd Bank are also key partners, enhancing the app's credibility and reliability.
Super.money aims to provide a streamlined user experience with substantial rewards for every transaction. Flipkart intends to transform how people interact with financial services, with continuous improvements based on user feedback.
super.money UPI app: How It Works
Built on the Unified Payments Interface (UPI) infrastructure, super.money enables instant bank-to-bank transfers via smartphones. The app integrates seamlessly with users' existing bank accounts, ensuring a smooth and efficient payment experience. Users can enjoy fast, secure transactions while earning real cashback on their spending.
Prakash Sikaria, Founder & CEO of super.money, expressed gratitude for the enthusiasm surrounding the app. He emphasized that the rapidly evolving landscape of digital payments and financial services offers immense opportunities for innovation. Sikaria highlighted super.money's goal of democratizing access to financial services, aligning with the Indian government's vision of financial inclusion.
Steps to Set Up super.money
1. Download the App: Visit the Google Play Store and download super.money.
2. Register Your Mobile Number: Use your mobile number linked to your bank account for registration.
3. Link Your Bank Account: Select your bank from the supported list and follow the prompts to link your account.
4. Set Up UPI PIN: Create a UPI PIN for secure transactions.
5. Start Transacting: Begin making payments, transferring money, and earning cashback.
Flipkart's Financial Services Expansion
In July last year, Flipkart partnered with Axis Bank to offer its customers loans up to Rs 5 lakh. The company also runs a lending program for merchants, further expanding its footprint in financial services. In December 2022, PhonePe, India's largest UPI app handling nearly half of all network transactions, announced its complete separation from Flipkart.
The launch of super.money signifies Flipkart's ongoing innovation in the financial technology sector. With its focus on real cashback, a user-friendly interface, and strong partnerships with established banks, super.money aims to attract users looking for better rewards and a smoother financial services experience. As the app gathers feedback and evolves, it will be exciting to see its impact on the future of digital payments in India.
