Flipkart’s Super.money, a financial technology platform spun off last year by Walmart-owned Flipkart, has discreetly allied with payments infrastructure firm Juspay as it broadens into direct-to-consumer checkout and aims for $100 million in yearly revenue by 2026. The partnership comes as Juspay strives to regain traction after encountering resistance from major payment providers earlier this year, a dispute that hindered its fundraising process.
Super.money Breeze And Market Vision
Recently, Super.money introduced its new D2C checkout service, Super.money Breeze, which offers merchants a one-click payment experience and accelerates online shopping by eliminating passwords and repetitive sign-ins. Although the firm hasn’t publicly identified its technology partners.
TheTechCrunch reports that Juspay powers the payment foundation for Super.money’s latest feature. This move could assist Super.money in capturing fresh customers and enhancing recognition among D2C brands, extending its reach beyond Flipkart’s existing audience while creating a distinct identity in the e-commerce landscape.
Significance For Juspay
The collaboration is particularly important for Juspay, which has been attempting to rebuild relationships with Indian merchants. The SoftBank-backed company lost several clients when payment gateways such as Razorpay and Cashfree Payments shifted away from Juspay in January, urging merchants to use their internal tools.
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This fallout affected Juspay’s fundraising round, reducing it to $60 million from the earlier expected $100 million, according to sources familiar with the situation. Juspay was once a preferred backend ally for payment aggregators, minimizing transaction failures through its routing system.
Competitive Landscape
The company still counts Amazon as a key customer and holds a payment aggregator license from the Reserve Bank of India. However, with competition increasing in India’s digital payments sector, firms like Razorpay, Cashfree, and Flipkart spin-off PhonePe have reduced their dependency on third-party services, strengthening direct relationships with merchants.
Super.money’s partnership with Juspay defies this pattern, offering a shortcut to D2C payment integrations without creating full-stack infrastructure internally. It also demonstrates Super.money’s intent to deepen user transactions and expand payment volume on its platform.
Rapid Growth And UPI Dominance
Launched as a payment app in June 2024, shortly after Flipkart separated from PhonePe, Super.money has emerged among India’s top five UPI apps by transaction volume. UPI, India’s government-backed instant payment framework, has helped the company process more than 200 million transactions per month for four straight months through August, according to the National Payments Corporation of India. Super.money has surpassed large private banks like Axis and ICICI, as well as fintech rivals such as Amazon Pay and CRED, a remarkable achievement for a new entrant.
Credit Card Expansion And Monetization
Super.money has also evolved into a major issuer of secured credit cards, holding roughly 10% market share, based on data shared with TechCrunch. These cards, issued by Utkarsh Small Finance Bank, require a security deposit from customers.
The firm plans to grow further through a potential partnership with a private lender. To date, it has distributed about 300,000 secured cards and is adding nearly 50,000 monthly. This business anchors Super.money’s monetization efforts, transitioning users from low-margin UPI payments to profitable credit products.
Operational Efficiency And Strategy
Unlike other UPI-focused fintechs, Super.money maintains minimal spending by leveraging Flipkart’s reach instead of costly advertising. It operates with a small team of around 130 to 150 employees serving more than 80 million users.
For Flipkart, Super.money represents a renewed fintech venture after spinning off PhonePe in 2023. While PhonePe dominates India’s UPI ecosystem independently, Super.money remains integrated within Flipkart, aiming to grow financial services both inside and outside its commerce network.
Funding And Future Goals
Flipkart has invested $50 million in Super.money, led by Prakash Sikaria, formerly Flipkart’s chief experience officer and founder of Shopsy. Sikaria also oversaw acquisitions like Cleartrip and initiatives such as Flipkart Ads and SuperCoins. Super.money now seeks to attract external investors and is reportedly in talks to raise funds at a $1 billion valuation next year.
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The company expects to close 2025 with about $30 million in annual recurring revenue and plans to triple that by 2026 through its credit card segment, personal loans, and the new checkout product.
Outlook And Competition
Super.money remains in its early monetization phase and will likely face competition from established players like PhonePe, Google Pay, and Razorpay, which are all reinforcing their payment frameworks. Its success will depend on how effectively it converts UPI traffic into sustainable income through lending and checkout solutions. Whether Super.money becomes Flipkart’s next major fintech triumph or struggles under market pressure will hinge on execution and adaptability.