Flipkart Introduces UPI Service to Compete with Amazon Pay

Flipkart UPI Service: In a strategic move to expand its payment ecosystem, Flipkart has launched its Unified Payments Interface (UPI) service in partnership with Axis Bank. The initiative aims to offer customers a seamless payment experience both online and offline. Initially available for Android users, Flipkart’s UPI service enables users to make bill payments and fund transfers directly from the Flipkart app, intensifying competition with popular third-party UPI apps like Paytm, PhonePe, Google Pay, and Amazon Pay.

Flipkart UPI

Rajneesh Kumar, Chief Corporate Affairs Officer of Flipkart India, revealed the introduction of Flipkart’s UPI handle in collaboration with Axis Bank. Currently exclusive to Android users, customers can register for the Flipkart UPI service using the @fkaxis handle within the Flipkart app. The partnership with Axis Bank underscores Flipkart’s commitment to enhancing the digital payment experience for its users.

Flipkart’s UPI service offers a wide range of functionalities, including payment for products, services, recharges, and bill payments. Users can also utilize it for transactions outside the Flipkart marketplace by scanning QR codes. To incentivize adoption, Flipkart is offering benefits such as supercoins, cashback, and vouchers for UPI transactions, encouraging users to embrace the new payment method seamlessly integrated into the Flipkart ecosystem.

To activate UPI on Flipkart, follow these step-by-step instructions:

1. Open the Flipkart app on your Android device.
2. Navigate to the “My Account” section by tapping on the profile icon located at the top left corner of the screen.
3. Scroll down and select the “UPI” option from the list of available features.
4. Click on the “Activate UPI” button to initiate the activation process.
5. Choose your bank from the list of supported banks displayed on the screen.
6. Enter your registered mobile number linked to your bank account.
7. Flipkart will send an SMS to verify your mobile number and bank details.
8. Once verified, you will receive a confirmation message indicating that your UPI has been successfully activated.
9. You can now use Flipkart UPI for making payments, transferring funds, and scanning QR codes for transactions.

To activate Flipkart UPI, interested users can navigate to the Scan and Pay option under My UPI within the Flipkart Android app. Following bank selection, Flipkart verifies user details via SMS and activates the UPI service, ensuring a hassle-free registration process. This streamlined approach aims to facilitate a swift transition for users eager to leverage Flipkart’s in-house payment solution.

The introduction of Flipkart’s UPI service marks a significant step towards reducing the platform’s reliance on third-party UPI providers. With over 50 crore registered users on its marketplace, Flipkart seeks to enhance user convenience and autonomy in digital transactions. This strategic move aligns with Flipkart’s broader vision to strengthen its position in the digital payment landscape and deliver a seamless payment experience to its vast user base.

As Flipkart ventures into the realm of UPI services, it aims to offer a competitive alternative to existing third-party platforms, empowering users with enhanced convenience and flexibility in their digital transactions. With a robust partnership with Axis Bank and a plethora of incentives for users, Flipkart is poised to redefine the digital payment landscape and solidify its position as a leading player in India’s e-commerce ecosystem.