Flipkart-owned payments app Super.money is launching online shopping on its platform, allowing users to make purchases in interest-free installments as it seeks to broaden its fintech play.
The shop, called splitStore, will sell smartphones and other electronics, fashion and home goods. It will let users buy within the Super.money app using peer-to-peer payments or UPI, the company said in a statement Thursday. India's state-backed Unified Payments Interface, or UPI, allows users to instantly transfer money and pay bills.
“In our journey, we think we are at a critical scale in UPI, we obviously have access to Flipkart infrastructure and have enough data to make this work,” Chief Executive Officer Prakash Sikaria said in an interview.
Super.money competes in a crowded fintech market with local and global rivals including homegrown Paytm, Walmart Inc.'s PhonePe and Alphabet Inc.'s Google Pay. With the exception of Paytm, most fintechs are unprofitable.
The launch allows Super.money to combine payments, lending and shopping in one app. It also equips Walmart Inc.-controlled Flipkart with another channel to sell products outside its main e-commerce platform. The service is initially available to a limited group of users but will be rolled out broadly over time.
“These are typically people who are new to credit or who are underserved by the current financial institutions — this would be their first credit product,” Sikaria said, adding that Gen Z was a key target audience for the UPI installment-led shopping on his app.
Super.money's marketplace will also have brands directly list on its shopping platform and make deliveries to customers using their own infrastructure.
The Super.money app was launched in 2024. It currently offers financial services including payments, credit cards, loans and fixed deposits and has 15 million monthly active users.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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