Flipkart, an e-commerce platform, has launched its UPI handle to further enhance its digital payment offerings for all customers including its 500+ million customers. Powered by Axis Bank, Flipkart UPI will initially be available for Android users. Customers can now register for UPI with @fkaxis handle and can do fund transfers and checkout payments using the Flipkart app.
For a distinctive customer experience, loyalty features like Supercoins, Cashbacks, Milestone benefits, and brand vouchers will be made available post the UPI launch. With the tagline ‘India’s Most Rewarding UPI’, the company plans to enhance the overall payment experience for users across India.
With UPI emerging as the preferred payment option, the launch of Flipkart UPI is expected to provide convenience and zero-cost solutions with its payment options. The UPI offering will enable smooth onboarding and allow users to conveniently avail of the feature for online and offline merchant transactions within and outside of the Flipkart marketplace.
It also introduces one-click and quick functionalities for recharges and bill payments, enhancing overall payment efficiency for the users. According to a release by the company, “With the new UPI feature, customers will get an intuitive, safe, and convenient digital payment experience through its integrated checkout funnel and a slew of delightful incentives including the benefit of instant refunds, making the transaction process a hassle-free and satisfying experience.”
In 2023, UPI processed over 117 billion transactions worth INR 182.84 trillion, showcasing a dynamic landscape with participation from banks, payment service providers, and fintech companies (source), as per the release.