Ecommerce giant Flipkart has made a significant move in the digital payments space by introducing its own UPI services, Flipkart UPI, in partnership with Axis Bank. This initiative aims to provide customers with seamless payment options directly integrated into the Flipkart platform.
Following its demerger with PhonePe, one of the leading UPI players, in late 2022, Flipkart has been diligently testing its UPI offering. This move reflects Flipkart’s commitment to innovation and enhancing its services to meet evolving consumer needs.
The launch of Flipkart UPI holds significance against the backdrop of the National Payments Corporation of India (NPCI) striving to diversify UPI’s ecosystem and reduce dependency on a few dominant players. By introducing its own UPI offering, Flipkart aims to contribute to this diversification while providing customers with a comprehensive payment solution.
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