Flipkart adds UPI to cart

Looking for a piece of the action in the digital payments space, Flipkart on Sunday rolled out its Unified Payments Interface (UPI) service for online and offline payments in collaboration with Axis Bank.

Currently available for Android smartphone users via the Flipkart app, customers can create a new UPI ID for fund transfers and in-app payments. Potential users include Flipkart’s 500 million registered users and 1.4 million sellers on its marketplace.

The entry of a new product in the UPI space comes against the backdrop of the Reserve Bank of India’s directive to Paytm Payments Bank to virtually discontinue operations post March 15.