As part of its fintech push, ecommerce giant Flipkart has launched super.money app in beta mode. The app went live on Google Play Store on June 23.
While the app currently offers UPI services, Flipkart aims to soon offer other financial services via the app.
As per the app description, it will not offer “useless rewards” but “real cashback”. The app will offer up to 5% cashback and rewards of up to 10% on Flipkart, Myntra and Shopsy.
Besides, the company also claims three times faster UPI payments with “default camera scan-on mode”.
The app says that a suite of financial products will be launched soon. These will include a credit card offering “superCard”, which will be issued in partnership with Utkarsh Small Finance Bank, a pre-approved loan service called “superCash”, and a fixed deposit offering “superDeposit”
The development was first reported by TechCrunch.
super.money confirmed the development with Inc42. “With an uncluttered UX and focus on great rewards for every transaction, super.money intends to change the way people engage with and consume financial services. The super.money team will continue to assess customer feedback in the coming weeks and improve the product further,” a spokesperson of super.money said.
Super.money founder and CEO Prakash Sikaria said that the landscape of digital payments and financial services is evolving rapidly and this presents incredible opportunities for innovation.
“super.money aims to democratise access to financial services by leveraging UPI infrastructure, which is aligned to the Government’s larger vision of financial inclusion. We have been working on several exciting products that we will launch soon,” Sikaria added.
(The story will be updated soon.)
