Flipkart has launched UPI service which has been developed with Axis Bank. This change is big in India’s online payment sector. Flipkart’s UPI service will provide additional benefits to PhonePe and GooglePe users.
Till now, if you bought something from Flipkart, you had to pay through platforms like Google Pay or PhonePe for UPI payment. But now e-commerce platform Flipkart has launched its own UPI service. It has been launched in partnership with Axis Bank. This is being seen as a big change in India’s online payment sector, because recently the leading online payment platform Paytm Payment Bank has been banned by RBI.
There will be competition with PhonePe and GPay
The tension between Google Pay and PhonePe has increased due to Flipkart UPI service, because the dominance of PhonePe and GooglePe continues in the UPI market. PhonePe and GooglePe alone capture about 70 to 80 percent of India’s UPI market.
You will get these benefits
However, now Flipkart has brought UPI service with many benefits, which is cloud based. In Flipkart UPI service, users will get benefits like cashback, super coins, vouchers.
Increased tension between PhonePe and GPay
It means clearly that if you make payment through Flipkart UPI while shopping from Flipkart, then you are going to get additional benefits. This remains a cause of concern for PhonePe and GooglePe, because both these UPI platforms do not have a popular e-commerce portal like Flipkart.
Android smartphone users will be able to avail the benefits
Currently this service is available for Android users, which can soon be made available for iOS users.
How to make payments on Flipkart UPI
- Download and install the latest version of the Flipkart app from the Play Store or Apple App Store
- Open the app, look for the ‘Flipkart UPI’ banner and tap on it
- Tap on ‘Add bank account’
- Select the bank that you want to link with Flipkart UPI
- Complete the verification process
Once the verification process is completed, users can make payments using Flipkart UPI just like any other UPI service — by scanning or by selecting UPI at the time of making a digital payment.
