Flipkart, India's leading e-commerce marketplace, which is trying to scale up its UPI (Unified Payments Interface) framework, revealed its own handle in a major development on Sunday. This sensitive initialization is intended to look after Flipkart's 500 million users, for they should be exposed to a quick and gratifying digital payment experience.

 

Powering Users with Flipkart UPI

 

Equipped with the Flipkart UPI that allows users to come up with their exclusive UPI handles in both online and offline transactions across Flipkart as well as beyond the Flipkart marketplace. Within these structures lie the advantages of Loyalty features for example SuperCoins, CashBack, Brand Vouchers, etc that further help to get an exceptional experience for customers. Flipkart UPI as a mode of payment for an Android app has given a convenient option for users involving shopping on E-commerce platforms, Scanning and Paying to UPI ID, Bill, and recharge payments.

 

Strategic Partnership With Axis Bank

 

The entry into the market has seen Axis Bank partnering with Flipkart's UPI (Unified Payments Interface) service to allow customers to register for UPI using the @fkaxis handle, acting as their account name for digital transactions to which their Flipkart app number is attached. "Mr. Dheeraj Aneja, the Senior Vice President - of the Fintech and Payments Group at Flipkart, shared that the company was cognizant of the fact that the digital landscape is constant and rapidly changing, which is why the digital landscape, Flipkart UPI launched was a combination of speed and security."


 

Having the tagline 'UPI's Largest Award-giving UPI app,' Flipkart targets to give a smooth, secure, and comfortable digital payment service. The platform enables easy access and loads of quick and one-click functionalities for recharge, thus resulting in enhanced payment efficiency. The introduction is presented along with many rewards such as instant refunds, which creates Flipkart's own way of shaping a new generation that lives in a digital environment.

 

The significant growth of the UPI market in India was observed in 2019, as a result of which it was able to process over 117 billion transactions and half a trillion rupees in value. Sanjeev Moghe, Axis Bank President and Head – of Cards & Payments, commented, "Our journey together in this space has seen us launching the most successful co-branded credit card in India and now, the UPI payment service," .