Flipkart has launched its own payments app, Super.money, in a move to expand into the fintech sector. The app offers UPI payments, cashback rewards, and plans to expand into secured cards and lending. The launch comes over a year after Flipkart separated from PhonePe and follows a recent $350 million investment from Google.
India’s digital transactions are experiencing tremendous growth, reaching remarkable volumes. However, alongside this expansion, fraudulent practices aimed at exploiting these transactions are becoming increasingly sophisticated. Banks, card networks, and payment platforms are implementing rigorous measures to safeguard online and offline transactions. AI plays a crucial role in identifying and combating fraud, although fraudsters are also leveraging these technologies.
NPCI authorizes Paytm to shift users to different banks for UPI payments, enabling seamless transactions and enhancing user experience. OCL, as the TPAP, facilitates the collaboration between Paytm and partner banks like Axis, HDFC, SBI, and YES Bank. Users instructed to activate new UPI IDs associated with their bank accounts for uninterrupted UPI services.
