Flipkart unveils its UPI handle to boost India’s digital evolution | Company News – Business Standard

Flipkart on Sunday launched its UPI (Unified Payments Interface) handle to enhance digital payment offerings to all users, including the e-commerce major’s over 500 million customers, and boost India’s digital evolution.

Powered by Axis Bank, Flipkart UPI will initially be available for Android users. Customers can register for UPI with @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.

For a distinctive customer experience, loyalty features like Supercoins, cashbacks, Milestone benefits, and brand vouchers will be made available post the UPI launch.

“Flipkart UPI underscores our dedication to shaping a digitally-empowered society and reaffirms our role as a leading catalyst in India’s digital evolution,” said Dheeraj Aneja, Senior Vice President – Fintech and Payments Group at Flipkart.

The UPI offering will enable users to conveniently avail of the feature for online and offline merchant transactions within and outside of the Flipkart marketplace. It also introduces one-click and quick functionalities for recharges and bill payments, enhancing overall payment efficiency for the users.

In 2023, UPI processed over 117 billion transactions worth Rs 182.84 trillion. Flipkart said that this showcases a dynamic landscape with participation from banks, payment service providers, and fintech companies.

“We continue to scale 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 the Flipkart UPI service,” said Sanjeev Moghe, President & Head – Cards & Payments, Axis Bank.

First Published: Mar 03 2024 | 3:15 PM IST