After the RBI ban on PayTM, one of the most popular services, Flipkart seems to be hoping to grab the opportunity by launching its own UPI solution. The company announced that it will be launching Flipkart UPI to compete with other players in the fintech industry such as Amazon Pay, PhonePe, Google Pay and PayTM UPI.
Flipkart already offers financial services such as Flipkart Pay Later and the Flipkart Axis Credit Card, and the company appears to be expanding its services to include UPI as well. Initially, the UPI service will only cater to Android users and eventually expand to iOS users as well.
Users will be able to create their UPI ID and use it for both online and offline merchant transactions. And just like any other UPI ID out there, this will work both within and outside the Flipkart app. This service is in partnership with Axis Bank.
With over 500 million registered users, Flipkart aims to compete with established UPI platforms like Google Pay, Amazon, and PhonePe. The company highlighted that Flipkart UPI is positioned to significantly influence India’s digital payments system.
It aligns with the vision of the digital economy and strategically addresses the growing adoption of digital payments. This move also offers an opportunity for millions of new users to benefit from the UPI ecosystem.
Sign Up for Flipkart UPI
Flipkart has already started rolling out the service for some users. You can sign up for the service and add your bank account or RuPay credit card to get started. Once signed up, you can start using Flipkart UPI to carry out your daily transactions.
Flipkart is offering new customers a ₹25 discount on the first Flipkart order made using Flipkart UPI. The company is also offering users 10 Super Coins for each transaction done using the Scan to Pay feature.
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If you’re interested in trying out Flipkart UPI, follow these simple steps:
- Open the Flipkart app.
- Look for the Flipkart UPI banner in the bottom-left corner. If you don’t see it, tap on “Scan & Pay” below the featured banners.
- Tap on “My UPI” at the bottom right.
- Select “Add bank account” or “Add RuPay credit card.” For this example, let’s choose “Add bank account.”
- Choose your bank from the list.
- Allow any permissions requested by Flipkart to register your bank account with Flipkart UPI.
- Select the SIM card associated with your bank account and wait a few seconds.
- Voila! You have successfully set up Flipkart UPI.
You can now copy your Flipkart UPI ID from here and use it like any other UPI ID. Aside from that, you can directly use the Flipkart app to scan a QR code, pay bills, do a recharge, or pay any UPI ID or phone number.
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