Super.money, Flipkart’s fintech unit, has quietly partnered with payments infrastructure company Juspay, according to a report by TechCrunch. The collaboration is part of Super.money’s broader plan to enter the direct-to-consumer (D2C) checkout space and to reach $100 million in annual revenue by 2026.
Although Super.money already benefits from Flipkart’s vast user base, this new move signals a shift towards building its own identity beyond the Flipkart ecosystem. By offering a D2C checkout product, the company aims to attract online shoppers and form new connections with D2C brands, essentially expanding its reach to customers who don’t currently use Flipkart.
The partnership also comes at a critical time for Juspay. Once a preferred backend partner for major payment services, ET reported in January that Juspay has been facing pressure from leading players like PhonePe, Razorpay, and Cashfree. These companies have been urging their merchants to move away from third-party orchestration platforms like Juspay in favour of direct integrations, citing shrinking revenues, stricter regulations, and rising competition as reasons.
This shift in strategy across the payments industry has impacted Juspay’s fundraising efforts. While it secured $60 million in a recent funding round, insiders say the figure fell short of earlier expectations of $100 million. Juspay got its payment aggregator (PA) licence from the Reserve Bank of India (RBI) last year and continues to support transaction routing to reduce failures.
For Super.money, the timing of the deal could offer a valuable opportunity to grow visibility and broaden its product offerings. Already the fifth-largest UPI app in India, the platform now handles around 257 million transactions per month, according to the National Payments Corporation of India Limited (NPCIL).
Backed by Flipkart’s resources, Super.money is actively expanding. Just last month, Flipkart invested $30 million into the business to support its push into lending and stockbroking. Led by CEO Prakash Sikaria, the company has also launched a co-branded credit card and is now looking to branch out into personal loans and wealth management products.
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Although Super.money already benefits from Flipkart’s vast user base, this new move signals a shift towards building its own identity beyond the Flipkart ecosystem. By offering a D2C checkout product, the company aims to attract online shoppers and form new connections with D2C brands, essentially expanding its reach to customers who don’t currently use Flipkart.
The partnership also comes at a critical time for Juspay. Once a preferred backend partner for major payment services, ET reported in January that Juspay has been facing pressure from leading players like PhonePe, Razorpay, and Cashfree. These companies have been urging their merchants to move away from third-party orchestration platforms like Juspay in favour of direct integrations, citing shrinking revenues, stricter regulations, and rising competition as reasons.
This shift in strategy across the payments industry has impacted Juspay’s fundraising efforts. While it secured $60 million in a recent funding round, insiders say the figure fell short of earlier expectations of $100 million. Juspay got its payment aggregator (PA) licence from the Reserve Bank of India (RBI) last year and continues to support transaction routing to reduce failures.
For Super.money, the timing of the deal could offer a valuable opportunity to grow visibility and broaden its product offerings. Already the fifth-largest UPI app in India, the platform now handles around 257 million transactions per month, according to the National Payments Corporation of India Limited (NPCIL).
Backed by Flipkart’s resources, Super.money is actively expanding. Just last month, Flipkart invested $30 million into the business to support its push into lending and stockbroking. Led by CEO Prakash Sikaria, the company has also launched a co-branded credit card and is now looking to branch out into personal loans and wealth management products.
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