BENGALURU: With UPI emerging as the preferred payment option, ecommerce marketplace Flipkart has launched its UPI handle. 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 the Flipkart marketplace, the company said.
It also introduced one-click and quick functionalities for recharges and bill payments. 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 incentives including the benefit of instant refunds, making the transaction process a hassle-free, the company added.
In 2023, UPI processed over 117 billion transactions worth R 182.84 lakh crore, showcasing a dynamic landscape with participation from banks, payment service providers, and fintech companies. Dheeraj Aneja, Senior Vice President - Fintech and Payments Group at Flipkart, said,“Recognising the dynamic digital landscape, the launch of Flipkart UPI seamlessly merges the convenience and cost-effectiveness of UPI with the trusted efficiency customers expect from us.”
On the Flipkart app, Flipkart UPI can be used to pay for any product or service, including e-commerce transactions, Scan and Pay to UPI ID, and Recharges and Bill payments.
In its first phase, Flipkart has partnered with Axis Bank. Sanjeev Moghe, President & Head - Cards & Payments, Axis Bank, said, “Axis Bank has always been at the forefront of extending multiple payments flows of UPI to its customers. We continue to scale our growth in UPI with partnerships and innovations.” Customers can register for UPI with @fkaxis handle and can do all fund transfers and checkout payments using the Flipkart app, he added. The ecommerce platform has a registered user base of over 500 million.
On the Flipkart app, Flipkart UPI can be used to pay for any product or service, including e-commerce transactions, Scan and Pay to UPI ID, and Recharges and Bill payments.
In its first phase, Flipkart has partnered with Axis Bank. Sanjeev Moghe, President & Head - Cards & Payments, Axis Bank, said, “Axis Bank has always been at the forefront of extending multiple payments flows of UPI to its customers. We continue to scale our growth in UPI with partnerships and innovations.” Customers can register for UPI with @fkaxis handle and can do all fund transfers and checkout payments using the Flipkart app, he added. The ecommerce platform has a registered user base of over 500 million.