Flipkart's Fintech Arm super.money Plans to Launch Buy Now, Pay Later Services

Super.money, the UPI app backed by Flipkart, is building a buy now, pay later (BNPL) product as its next step in lending, as per Livemint report. 

The feature is still under testing and will only launch after the app completes tighter KYC checks required for this category. Reports suggest that  the company is working with banks and regulated lenders for the rollout. 

Pay-Later Option Tied to Shopping 

The new product is expected to work in two ways. One part will let users choose super.money as a pay-later option at checkout on e-commerce sites. The other will bring a shopping layer inside the app, where users can browse products and pay later in instalments. Similar players already exist, including Snapmint, which raised roughly $125 million this year, and Axio, which Amazon acquired for around $200 million. 

UPI Volume Without Income Pushes Apps Towards Credit 

UPI handles massive payment volume but generates almost no direct income for apps. Since 2020, UPI transactions have carried zero merchant discount rate (MDR), which means there is no fee earned from the payment flow. A credit product like BNPL changes how platforms earn, since income can come through interest, late fees or merchant commissions tied to purchases. 

Where super.money Stands Today 

Super.money has been targeting young and first-time borrowers, relying heavily on cashback of up to 5% on UPI transactions to grow. By September 2025, the app processed 256.34 million UPI payments worth ₹9,852.44 crore, placing it in the top bracket of UPI apps by volume, above CRED, WhatsApp Pay, Amazon Pay and BHIM. 

Founder Prakash Sikaria said the platform handled ₹740 crore in loans in one month, has 10–10.5 million monthly transacting users, and earns around $3 million per month in revenue. The company plans to issue 2 million cards next year, and is already among India’s top three RuPay issuers. 

Read More: Flipkart Drops Commission Fees for Products Listed Under ₹1,000! 

Conclusion 

UPI offers reach but not revenue. By entering BNPL, super.money is attempting to turn everyday online spending into a lending opportunity, both on its own app and at e-commerce checkout. 

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