Flipkart Group’s latest Unified Payments Interface (UPI) app, super. money has been officially launched, representing a significant milestone following its separation from Walmart-backed fintech, PhonePe, over a year ago. Presently in beta, the app is initially accessible to 100,000 users and can be downloaded from the Google Play Store.
Available Rewards and Advantages
A standout feature of Super. Money is its commitment to offering up to 5% “real cashback” on transactions, differentiating itself from other apps that often provide less valuable rewards. The app prioritizes tangible benefits for users, aiming to provide credit swiftly through UPI, in collaboration with Utkarsh Small Finance Bank. It also has partnerships with Axis Bank and IndusInd Bank, enhancing its credibility and reliability.
Super. Money attempts to offer a streamlined user experience (UX) and significant rewards for each transaction. The company seeks to transform the way individuals interact with and utilize financial services, continuously evaluating customer input to enhance the product.
How It Operates
Super. Money operates on the reliable UPI platform, enabling users to make immediate bank-to-bank transfers through their smartphones. It seamlessly connects with users’ bank accounts, ensuring a seamless and effective payment process. Users can benefit from quick, secure transactions and earn real cashback on their expenditures.
Prakash Sikaria, Founder & CEO of Super.Money expressed appreciation for the enthusiastic response to the app. He emphasized the rapid evolution of digital payments and financial services, presenting significant opportunities for innovation. Sikaria noted that Super. Money strives to make financial services accessible to everyone, in line with the government’s vision of financial inclusion.
Setup Process
Setting up super. money is straightforward –
- Get the App – Go to the Google Play Store and download Super. Money.
- Register with Your Mobile Number – Enter your mobile number linked to your bank account for registration.
- Connect Your Bank Account – Choose your bank from the available options and follow the steps to link your account.
- Create UPI PIN – Establish a UPI PIN for secure transactions.
- Begin Transactions – After setup, you can initiate payments, transfer funds, and earn cashback.
In July of last year, Flipkart unveiled a collaboration with Axis Bank to provide loans of up to Rs 5 lakh to its customers. The company has also extended its financial services with a lending initiative for merchants. In December 2022, PhonePe, India’s leading UPI app processing nearly half of all transactions, formally completed its separation from Flipkart.
The introduction of super. money underscores Flipkart’s ongoing advancements in financial technology. Emphasizing real cashback, a user-friendly interface, and strong partnerships with established banks, super. money aims to appeal to users seeking enhanced rewards and seamless financial services. As the app gathers feedback and evolves, it will be intriguing to witness its impact on the future of digital payments in India.
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