🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥

Startup Showcase

Premium Content

Try our Valuation Calculator →

News on Medial

Flipkart’s fintech dreams: Rolls out UPI offering for select users

Inc42 · 1y ago

Flipkart’s fintech dreams: Rolls out UPI offering for select users

Flipkart has launched its Unified Payments Interface (UPI) offering for a select group of 10,000 users, with plans to scale up nationally in the coming weeks. The move is part of Flipkart's ambitions to establish a comprehensive payment technology ecosystem similar to Amazon Pay. In addition to expanding its fintech presence, Flipkart is reportedly planning to lay off around 1,000 employees as part of its annual performance review process. However, a source claims that the exact numbers are still speculative.

Related News

Behind Flipkart’s big billion dreams for the fintech market

Inc42 · 1y ago

Behind Flipkart’s big billion dreams for the fintech market

Flipkart is entering the lending space with its fintech platform, Super.Money, aiming to offer lending, insurtech, and other fintech products and services. The move represents Flipkart's strategic shift towards diversification and profitability, as it seeks to leverage its vast user base while navigating potential conflicts with PhonePe and regulatory complexities. Flipkart has invested $20 million in Super.Money and has introduced personal loans as an initial offering on its app. However, Flipkart faces challenges such as competition in the lending space and the need to bring in experts in financial services to lead operations.

Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb

Entrackr

Entrackr · 4m ago

Flipkart’s Super.money pushes CRED out of top 5 UPI app in Feb

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.

Truecaller rolls out UPI-backed verified badge feature for Android premium users

Livemint

Livemint · 9m ago

Truecaller rolls out UPI-backed verified badge feature for Android premium users

- Truecaller has launched a UPI-based verification feature in India for its Android Premium users, allowing them to verify their identities and earn a 'Verified Badge'. - The new service aims to enhance trust and authenticity in digital communication by verifying users' identities through the government-backed UPI platform. - Users can initiate the verification process themselves and authenticate their profiles using the UPI method. - Truecaller plans to roll out the Verified Badge feature in other countries as part of its global expansion plan. - The introduction of this feature sets a new standard for digital identity verification, providing users with a credible and secure platform for communication.

Fintech super.money rolls out new co-branded credit card with Axis Bank

YourStory

YourStory · 1m ago

Fintech super.money rolls out new co-branded credit card with Axis Bank

Fintech startup super.money partnered with Axis Bank to launch a new co-branded credit card, offering 3% cashback on UPI QR code transactions via their app and 1% on other spending, with no annual fees. The RuPay-backed card targets everyday retail rather than large merchants. Aimed at existing credit users, the card is both digital and physical, and supports super.money’s profitable strategy without needing fresh fundraising until 2026.

Paytm shares hit 52-week high as fintech rolls out UPI Lite auto top-up for small payments

Economic Times

Economic Times · 7m ago

Paytm shares hit 52-week high as fintech rolls out UPI Lite auto top-up for small payments

Paytm shares surged over 4% to reach a 52-week high at Rs 939 following the announcement of an automatic top-up feature for its UPI LITE service. The new feature enables PIN-less transactions for payments under Rs 500 and is available for select users of Yes Bank and Axis Bank. Paytm's UPI LITE service allows small-value payments up to Rs 2,000. Additionally, Paytm introduced a UPI statement download feature and has expanded its UPI service globally. Despite the initial rally, the stock experienced some profit booking and was trading at Rs 889.8 as of 1:24 pm.

NPCI Puts Brakes On Misuse Of Virtual IDs

Inc42 · 8m ago

NPCI Puts Brakes On Misuse Of Virtual IDs

Fintech companies are offering services using unauthorised third-party authentication of users through their UPI Ids, which goes against the rules set by the NPCI and the central bank. The NPCI has ordered the shutdown of these services, stating that UPI APIs are intended for facilitating UPI payments and verifying users for fraud prevention purposes only.

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru

Entrackr

Entrackr · 17d ago

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru

Slice rolls out UPI credit card and opens UPI-powered bank branch in Bengaluru According to the company, the Slice UPI credit card comes with no joining or annual charges. Users can scan QR codes or make UPI payments to access their credit lines. Fintech company Slice has launched a UPI credit card and opened a UPI-powered physical bank branch in Bengaluru, following its merger with North East Small Finance Bank. The Slice UPI credit card offers up to 3% cashback on all spends and includes a feature called Slice in 3, allowing customers to convert purchases into three interest-free instalments. The newly opened branch in Koramangala includes UPI-integrated services, self-service kiosks, and a UPI-enabled ATM supporting deposits and withdrawals. Customers can also open accounts and access other banking products at the branch. Slice aims to integrate credit more closely with UPI and expand access to users outside the traditional credit ecosystem. Unlike most fintech companies that rely on third-party banking partners, Slice operates as a bank, controlling its infrastructure, including core banking systems and credit underwriting. Slice recently passed a resolution to rebrand North East Small Finance Bank as Slice Small Finance Bank. The merger was completed in October last year. In a media interview, Slice founder Rajan Bajaj said the bank has turned profitable on a monthly basis and the group aims to go public in the next three to four years. The Bengaluru-based company has raised nearly $400 million in funding, including a $220 million Series B round led by Tiger Global and Insight Partners. Tiger Global is the largest stakeholder, followed by Insight Partners.

Flipkart’s Fintech Push: super.money App Goes Live In Beta Mode

Inc42 · 1y ago

Flipkart’s Fintech Push: super.money App Goes Live In Beta Mode

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.

Make Payments Without PIN: Paytm To Focus On UPI Lite Wallet For Low-Value Transactions

Inc42 · 1y ago

Make Payments Without PIN: Paytm To Focus On UPI Lite Wallet For Low-Value Transactions

Fintech major Paytm is focusing on its UPI Lite wallet feature to cater to users who prefer wallets for low-value transactions. Paytm's UPI Lite enables secure and fast transactions without the need for a PIN. Users can add up to INR 2,000 to their wallet twice a day, with a total daily limit of INR 4,000. This streamlined approach benefits users making small payments for groceries, parking tickets, and daily commute fares. Paytm is committed to growing the UPI ecosystem in partnership with NPCI. The Reserve Bank of India has prohibited Paytm Payments Bank from offering incremental banking services.

Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings

Economic Times

Economic Times · 4m ago

Flipkart’s Super.money acquires BharatX’s tech, key team members to expand credit offerings

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.

Trackers

Active Indian VC’s

OG Capital Email

With a hands-on approach, OG Capital aims to invest in over 20 promising...

Accel Partners Email

Early and growth-stage investments in disruptive technology companies with...

Early-stage venture capital firm investing in technology startups in India. Focus on...

Access All Trackers

Startup Showcase Winners

June 2025

Helping your parents when you are miles away

The Pit Stop Your Cravings Deserve

The next generation E-commerce platform

Enter Ongoing Startup Showcase

Top Users

Trending News on Medial

Meta acquires voice startup Play ...

From 66 to 4: Why Y Combinator is ...

Zomato CEO Deepinder Goyal buys l ...

Download the medial app to read full posts, comements and news.