Flipkart’s super.money is the newest player in India’s crowded UPI payments market, but it’s not trying to beat the giants by playing their game. Instead, super.money is betting big on a different strategy: focusing on a smaller group of high-value, “power users” instead of chasing hundreds of millions of casual users.
What Is super.money?
Super.money is Flipkart’s answer to digital payments, launched after its split from PhonePe. The app lets users make instant bank-to-bank payments using UPI, just like PhonePe, Google Pay, and Paytm. But it stands out by promising up to 5% real cashback on transactions and offering a smooth, simple user experience.
The Power User Strategy
While most UPI apps try to get as many users as possible, super.money’s founder Prakash Sikaria says their goal is to attract 20-30 million high-value customers, not the entire 400 million UPI user base. These are people who shop often, spend more, and are open to using credit and other financial services.
This approach is different from the “spray and pray” method of giving small rewards to everyone. Super.money wants to create a loyal group of users who keep coming back for bigger, more meaningful benefits like real cashback and easy access to credit.
How super.money Is Winning Users
- Real Cashback : Unlike rivals who offer coupons or scratch cards, super.money gives up to 5% actual cashback on payments for food, travel, and shopping. This makes the rewards feel more valuable and useful.
- Bundled Financial Services : Super.money isn’t just about payments. It plans to offer credit products (like a RuPay credit card), loans, and insurance, turning the app into a one-stop financial hub.
- Focus on Offline Use : The app is pushing into offline payments, where most daily spending happens, not just online shopping.
- User-Friendly Design : The app is designed to be simple and welcoming, especially for users in smaller towns who may find other fintech apps confusing.
Is It Working?
In just a few months, super.money has seen explosive growth. Transactions jumped 10 times in two months, reaching 26 million in September 2024, making it the fifth-largest UPI app in India. The app already has a waitlist of over a million people for its upcoming credit card.
The Big Challenge
Despite this fast growth, super.money faces tough competition. PhonePe and Google Pay together control nearly 85% of the UPI market, with Paytm also holding a big share. These giants have deep pockets, strong brand recognition, and millions of loyal users.
But super.money is not trying to beat them at their own game. By focusing on power users, offering real rewards, and bundling more financial services, Flipkart hopes to build a strong, loyal community that spends more and sticks around longer.
Conclusion
Flipkart’s super.money is taking a bold bet: instead of chasing everyone, it’s targeting the most valuable users with real benefits and a simple experience. It’s early days, but the rapid growth and unique approach show that there’s room for new ideas, even in a market dominated by giants. If super.money can keep its power users happy, it just might outrun its rivals.
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