The Unified Payments Interface (UPI) service has been made available by ecommerce giant Flipkart for both online and offline payments made both inside and outside of its app.
Flipkart, which says it has over 50 crore registered users and 14 lakh sellers on its marketplace, would be able to rely less on third-party UPI apps like Paytm, PhonePe, Google Pay, and Amazon Pay thanks to this initiative.
Consumers can pay bills and make payments to businesses and individuals without using other apps by creating a UPI ID on the Flipkart app.
The program, which was introduced in association with Axis Bank, will first be accessible to Android users, according to a statement from the business.
In order to better serve their consumers and prevent being sent to third-party payment apps, e-commerce companies have started developing their UPI handles.
While competitors Amazon and Tata Neu have been providing the same service for some time, Zomato, a significant player in food delivery, recently debuted its UPI service.
There are also accounts for apps like MakeMyTrip and WhatsApp. With 1,210 crore transactions on the UPI in February, the total value was Rs 18.3 lakh crore, a 61 per cent increase from the same month last year.
