Flipkart Group Launches New Payments App, super.money, Targeting First-Time Borrowers

- Super.Money, backed by Flipkart, recently launched a co-branded credit card and plans to expand to six financial products targeting young professionals. - Founder Prakash Sikaria revealed plans to seek external funding in December 2024 to solidify its position in India's competitive fintech sector. - The platform has already launched UPI services, personal loans, and the superCard, with plans to introduce fixed deposits and credit lines via UPI soon. - Super.Money aims to differentiate itself with a streamlined user interface, appealing to young, affluent users in India. - Despite competition with PhonePe, Sikaria emphasized that Super.Money is a credit-first company, focusing on financial services. Source: [Inc42](https://inc42.com/buzz/flipkarts-super-money-plans-to-raise-external-funds-to-launch-fds-credit-lines-via-upi/)

question: do we need another app do payments?

What is with all the buzz around these 2 new apps? Are they solving some new problem?

This space is truly getting exciting

What other apps is there in the market that I can use for small upi payment as I don't want to mess up my bank statement with small upi transactions.

Walmart owns majority share in both PhonePe and Flipkart, PhonePe is a separate entity from Flipkart, but why is Flipkart itself entering into UPI ecosystem when it is dominant in e-commerce and PhonePe is dominant in UPI and payments. Why is Walmart letting both organisations go against one another by building Flipkart UPI seems weird and waste by burning money. Is it hoping Flipkart UPI to get market share from Amazon Pay or something else is at play here ? Why not pitch PhonePe inside Flipkart app heavily instead ?

Why do this when there are no UPI fees and an abundance of UPI apps already? No hate. Just curious why they’d build this

- Adani One, the super app of Adani Group, has started pilots with digital lending firms and non-banking financial companies (NBFCs) to offer loans on its platform. - The app, housed under Adani Enterprise Limited’s digital arm, Adani Digital Labs, has partnered with KrazyBee Services, the NBFC arm of fintech firm KreditBee, to provide personal loans. - Adani Digital will act as a lending service provider (LSP), with personal loans ranging from Rs 1,000 to Rs 5 lakh being extended from KrazyBee’s books. - The company is also exploring mid-sized deals in the fintech space to enhance the app’s digital presence and expand its user base. - More tie-ups with other NBFCs and fintech players are underway to offer a broader range of credit products to customers. Source: Moneycontrol