Flipkart's Super.Money Eyes External Funding, Plans to Launch FDs and Credit Lines via UPI

- Flipkart has introduced a new payments app, super.money, to facilitate UPI payments and offer cashback, aiming to strengthen its position in the fintech sector. - The app, launched in beta in June, has already processed 10 million transactions and achieved 1 million downloads, offering up to 5% cashback on merchant transactions. - Super.money plans to introduce a credit on UPI feature, partnering with NPCI for a co-branded credit card, targeting borrowers from tier 2 and tier 3 cities. - Prakash Sikaria, CEO of super.money, emphasized the focus on first-time borrowers who have never had an unsecured credit card, aiming to formalize credit for this group. Source: [Live Mint](https://www.livemint.com/companies/start-ups/flipkart-group-payments-app-super-money-phonepe-credit-on-upi-first-time-borrowers-11724238836382.html)

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

Folks who are giving interviews these days, which companies are you interviewing for ? Also what is the method of getting the interview ? Did recruiter reach out to you on LinkedIn, or you applied on a company portal and got the call or did you ask for a referral ?

This space is truly getting exciting

question: do we need another app do payments?

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 ?

- Flipkart aims to have around 100 dark stores operational by the launch of Flipkart Minutes, currently accessible to select users in certain pincodes. - The move is part of Flipkart’s strategy to compete with Zepto, Blinkit, and Swiggy Instamart this festive season, focusing on fast delivery for non-grocery segments. - Dark stores are being tested with employees at Flipkart’s Bengaluru headquarters, with plans to stabilize and scale up the service in specific areas. - Flipkart’s quick commerce push is driven by revenue potential, with top platforms like Swiggy Instamart, Zepto, and Blinkit expected to surpass $1 Bn in revenue for FY24. - This development follows Flipkart’s expansion into digital payments and fintech products, highlighting its strategy to adapt to the evolving digital commerce landscape. Source: Economic Times

How are Indian startups performing in credit cards? Haven’t heard much noise lately from any of them Uni, Slice, Scapia, Kiwi everyone seems to be cooling down at this point. Last couple of quarters all were pushing a lot in marketing and onboarding.

Flipkart is trying to enter two different market segments at the same time: Quick Commerce and UPI. There are already proven players in the space and it isn't possible to enter these segments without loads of investment. I wonder what Flipkarts game plan is and how it is going to execute it