Biznextindia: E-commerce giant Flipkart has introduced its Unified Payments Interface (UPI) service, enabling online and offline transactions both within and beyond its application.
This initiative aims to lessen reliance on external UPI platforms like Paytm, PhonePe, Google Pay, and Amazon Pay. With over 500 million registered users and 1.4 million sellers, Flipkart is set to streamline its payment processes.
Dheeraj Aneja, Senior Vice President of Fintech and Payments Group at Flipkart, highlighted the significance of this move, stating, “Acknowledging the ever-evolving digital realm, the introduction of Flipkart UPI seamlessly combines UPI’s convenience and cost efficiency with our customers’ trust in our reliability.”
Users can easily set up a UPI ID within the Flipkart app, facilitating transactions with both merchants and individuals, as well as bill payments, without the need to switch between applications.
The service, developed in partnership with Axis Bank, will initially cater to Android users, as announced by the company in a statement.