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News on Medial
Flipkart-backed Super.money climbs UPI rankings in Feb as leaders see volumes dip
YourStory
·
4m ago
Medial
Super.money has climbed to the fifth-largest position among UPI platforms, surpassing Cred and Axis Bank Apps by processing 139.1 million transactions in February. Despite PhonePe and Google Pay retaining top spots, overall UPI transactions saw a decline. Paytm remained third with a smaller transaction drop. The Indian government reduced the budget for promoting RuPay and BHIM-UPI incentives, which are crucial for facilitating low-value transactions amidst the absence of Merchant Discount Rate fees.
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Flipkart may lead $35-40 million round in its Super.money
Economic Times
·
6m ago
Medial
Flipkart is negotiating to lead a $35–40 million funding round in its fintech venture, Super.money, potentially involving external investors while retaining majority ownership. Super.money, a rapidly growing Unified Payments Interface (UPI) app, recently exceeded Amazon Pay's transaction volumes. The funding, set to establish a valuation benchmark for Super.money, will support its aggressive scaling in 2025. Established as a separate entity, Super.money continues to innovate with products like credit-first UPI applications, fixed deposits, and instant lending solutions.
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Flipkart-Backed super.money Goes Past Amazon Pay In UPI Transactions
Inc42
·
8m ago
Medial
Indian fintech startup, super.money, backed by Flipkart, reported facilitating around 78.49 million transactions worth INR 3,130.10 crore in the last month. The company surpassed popular UPI players such as WhatsApp and FamApp, further solidifying its position against Groww, MobiKwik, BHIM, and Jupiter Money. Meanwhile, the top three spots in the UPI ecosystem were maintained by PhonePe, Google Pay, and Paytm.
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Flipkart launches UPI app Super.Money to offer financial services
Entrackr
·
1y ago
Medial
E-commerce major Flipkart has launched a unified payments interface (UPI) app Super.Money to offer payments, credit, deposits and other digital financial services. As a part of the beta version, the app will be available for initial 100,000 users. The app is live in partnership with Axis Bank while it will also offer credit through Utkarsh Small Finance Bank. As per the company’s website, DMI Finance and Credit Saison are other financial partners of Super.Money. The app is also offering coupons, scratch cards or coins for making UPI payments. “Super.money aims to democratise access to financial services by leveraging UPI infrastructure, which is aligned to the government’s larger vision of financial inclusion,” said Prakash Sikaria, CEO of Super.Money. The development comes 18 months after the separation of Flipkart and PhonePe, which is the leading UPI app in India with nearly 50% market share. It’s worth highlighting that Flipkart also has its own UPI handle within the shopping app. Super.Money was reportedly in talks to raise $20 million from Flipkart. In March, Flipkart launched its own UPI services which will allow its users to set up their own UPI handle for online and offline merchant transactions. As per NPCI data, the app registered 4.44 million transactions worth Rs 251 crore in May. Its arch rival Amazon Pay did 68.34 million transactions in the last month. With 48.6% market share, PhonePe is the leader among UPI apps followed by Google Pay and Paytm with 37% and 8% market share respectively.
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Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb
Entrackr
·
4m ago
Medial
Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb The Unified Payments Interface (UPI) recorded a 5.2% decline in transaction volume, totaling 16.11 billion in February 2025. While the top three UPI apps—PhonePe, Google Pay, and Paytm—continued to dominate the market, Flipkart’s Super.money entered the top five for the first time. PhonePe accounted for 47.54% of transaction volume (7,656.40 million) and 50.94% of the total value (Rs 11,18,963.81 crore). Google Pay secured the second position, processing 5,836.80 million transactions (36.24% volume share) worth Rs 7,71,089.15 crore (35.11% value share). Paytm recorded 6.70% volume share and Rs 1,17,090.29 crore in value (5.33% value share). Among smaller players, Cred stood out with Rs 45,127.72 crore in transactions (2.05% value share), despite a 0.79% volume share. Navi and Super.money held minor shares, processing 260.75 million and 139.10 million transactions, respectively. In terms of volume, Super.money has replaced CRED to become the 5th largest UPI app in the last month. As UPI adoption continues to grow, PhonePe and Google Pay control over 83% of the market, with Paytm striving to stay competitive. NPCI Chief Dilip Asbe recently revealed that UPI has 450 million users, with 200 million active daily. He emphasized the need for RBI, the government, and financial institutions to support strategies aimed at onboarding 200-300 million more users.
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Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings
Economic Times
·
5m ago
Medial
Flipkart-backed fintech Super.money has acquired the technology and key team members of BharatX, a fintech credit startup, to bolster its credit offerings. This strategic move aims to enhance Super.money’s capabilities in checkout financing, including buy now, pay later and consumer durable loans, through credit on UPI platforms. However, it does not constitute a full acquisition due to BharatX's existing liabilities. Super.money plans to leverage BharatX’s technology to expand credit products for young consumers.
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Flipkart Group’s new payments app—super.money—eyes first-time borrowers
Livemint
·
11m ago
Medial
Flipkart has launched a new payments app called super.money, which allows users to make payments via Unified Payments Interface (UPI) and earn cashback. The app has already handled 10 million transactions and 1 million downloads since its beta launch in June. It offers up to 5% cashback on merchant transactions and special offers on partner platforms like Myntra and Flipkart. The company also plans to introduce a credit on UPI offering in partnership with the National Payments Corporation of India's UPI infrastructure. Super.money aims to target first-time borrowers and become one of the top 5 UPI players by December.
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Walmart-owned Flipkart launches Flipkart UPI to counter third-party apps
IndianStartupNews
·
1y ago
Medial
Walmart-owned ecommerce platform Flipkart has introduced its own Unified Payments Interface (UPI) service, allowing users to create UPI handles for transactions within and outside its platform. With over 500 million registered users, Flipkart aims to streamline payments by integrating UPI directly into its app. The move is seen as an attempt to reduce dependence on third-party payment apps like Google Pay and Paytm and enhance user convenience. Flipkart has also partnered with Axis Bank to launch the '@fkaxis' UPI handle and plans to expand its financial services through the new fintech platform, Super.Money.
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Flipkart’s Fintech Push: super.money App Goes Live In Beta Mode
Inc42
·
1y ago
Medial
Flipkart, the ecommerce giant, has introduced its super.money app in beta mode as part of its fintech initiatives. The app is available for download on the Google Play Store and currently provides UPI services. Flipkart plans to expand the app's offerings to include other financial services in the near future.
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UPI records marginal dip in June with 18.4 Bn transactions
Entrackr
·
1m ago
Medial
UPI records marginal dip in June with 18.4 Bn transactions This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. After hitting an all-time high in May, Unified Payments Interface (UPI) transactions slightly declined in June 2025 in both volume and value. According to data released by the National Payments Corporation of India (NPCI), the platform processed 18.40 billion transactions worth Rs 24.04 lakh crore in June, compared to 18.68 billion transactions worth Rs 25.14 lakh crore in May. This reflects a month-on-month (MoM) dip of around 1.5% in volume and 4.4% in value. On a year-on-year (YoY) basis, UPI volumes in June grew 32%, while the transaction value rose 20%. The average daily transaction count stood at 613 million in June, slightly higher than 602 million in May, while the average daily transaction value was marginally lower at Rs 80,131 crore compared to Rs 81,106 crore in the previous month. The higher daily average in June is likely due to the fewer number of days in the month compared to May. As of May, PhonePe retained its lead with a 46.47% share of the total UPI volume, followed by Google Pay with a 36.09% market share. Paytm is the third-largest UPI player with a 6.84% share of the UPI volume. New entrants like Navi, Flipkart’s super.money, and Fampay by Trio are also making notable contributions to the overall UPI volume. Besides India, UPI is currently live in Bhutan, Nepal, Mauritius, Sri Lanka, Singapore, France, Oman, and the UAE. According to media reports, NPCI is also aiming to expand UPI to additional countries, including Qatar, Thailand, Malaysia, and other Southeast Asian nations, while the UK, Oman, and the Maldives have shown interest or are in the early stages of integration.
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Flipkart fintech 2.0: Can super.money strike gold?
Livemint
·
11m ago
Medial
Indian e-commerce giant Flipkart has launched a new fintech platform called super.money, signaling its renewed commitment to the digital payments and financial services market in India. The app allows users to make UPI transactions and earn cashback. Flipkart, which previously owned digital payments company PhonePe, aims to establish a strong presence in the fintech sector. The launch of the co-branded credit card in partnership with Utkarsh Small Finance Bank is part of Flipkart's expansion into offering financial services beyond payments. Flipkart is leveraging its vast user base to accelerate customer acquisition for super.money.
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