Ecommerce giant Flipkart has made a significant move in tha digital payments space by introducing its own UPI services Flipkart UPI in partnership with Axis Bank This intiative aims to provide customers with seamless payment optins directly integrated into tha Flipkart platform
Introducing Flipkart UPI
Flipkart UPI, initially exclusive to Android users facilitates both online and offline transaction within and outside the Flipkart app
Users can create a UPI ID via the Flipkart app enabling effortless transaction with merchants , individuals, and utility bill payments without switching between apps.
The service extends to various flipkart group companies including myntra flipkart wholesale , flipkart health+,and cleartrip .
Flipkart UPI introduction aims to reduce dependence on third -party UPI platforms like Amazon Pay , Google Pay ,Paytm and PhonPay.
Axis bank provides a stable and scalable UPI platform hosted on the cloud allowing customers to register for UPI using the @fkaxis handle and enabling seamless found transfers and checkout payments within the flipkart ecosystem
Evolution since Demerger with Phon Pay
Fllowing its dmerger with PhonPay, one of the leading UPI players in late 2022, Flipkart has been diligently testing its UPI offering. This move reflects Flipkart commitment to innovation and enhncing its services to meet evolving consumer needs.
Significance in the Digitel Payments Landscape
The launch of Flipkar UPI holds significance against the backdrop of the National Payments Corporation of India (NPCI) Striiving to diversify UPI ecosystem and reduce dependency on a few dominant players.By introducing its own UPI offering, Flipkart , aims to contribute to this diversification while providing customers with a comprehensive payment solution.
