Flipkart has teamed with Axis Bank to enter the digital payments space with its latest offering, Flipkart UPI. The Reserve Bank of India (RBI) has been monitoring Paytm Payments Bank, which presents a chance for other fintech companies. This new service from the e-commerce platform comes after that.
With Flipkart UPI, customers may now send money to friends, family, and local vendors using UPI IDs, phone numbers, or QR codes. They can now make online payments within the Flipkart app. Furthermore, the application makes bill payments easier.
Simple Steps To Use Flipkart UPI
- Download and install the newest Flipkart app from the Google Play or Apple App Store.
- Within the app, locate and press the “Flipkart UPI” banner.
- Choose the ‘Add bank account’ option.
- Select the bank that you want to link to Flipkart UPI.
- Finish the verification procedure.
- After verification, customers can then easily make payments with Flipkart UPI.
- The UPI service will initially only be accessible to Android users.
The e-commerce platform’s introduction of Flipkart UPI is seen as a move to increase its market share in the digital payments sector and challenge Amazon, which already has its payment vertical called Amazon Pay.
With more Indians adopting digital technology due to its ease and security, Flipkart’s UPI debut comes with a rise in digital use.
