Latest news with #UPI-first
The Wire
29-07-2025
- Business
- The Wire
super.money Diversifies into Travel with FLIGHTS Launch; Strengthens Position as the Most Rewarding UPI Platform
With this launch, Gen Z's Favourite Money App is Betting Big on Travel Boom Bengaluru, Karnataka, India (NewsVoir) one of India's fastest-growing UPI-first platforms, today announced the launch of 'FLIGHTS' - a reimagined, rewards-first flight booking experience built primarily for Gen Z travellers. Powered by Cleartrip, this new feature enables users to book domestic flights seamlessly via UPI, while unlocking an exclusive 5% benefit that stacks on top of other offers, making it the most rewarding way to book flights today. This launch furthers ambition to redefine what UPI can do. With FLIGHTS, strengthens its position as a trailblazer, transforming UPI from a basic transaction tool into a platform for meaningful, high-value commerce. It bridges the benefits gap between credit cards and UPI, while keeping payments simple, secure, and instant. Recent Cleartrip data highlights that Gen Z consumers (those born between 1997 and 2012) are driving a shift in travel behaviour: opting for solo experiences, prioritising comfort and personal freedom, and choosing UPI and debit cards over credit-based payments. In fact, Gen Z leads in UPI usage, with 10% more UPI transactions than any other cohort. is directly addressing this shift by giving young Indians a way to book flights using just UPI - without sacrificing rewards, benefits, or control. This aligns with Gen Z's preference for ease, instant gratification, and debt-free financial choices. 'With 'FLIGHTS,' we are embedding value directly into travel bookings on UPI,' said Prakash Sikaria, Founder & CEO of 'This move reflects our larger vision to make UPI not just about daily spends but about enabling life's bigger moments too. Whether it's booking a solo trip or a dream holiday, FLIGHTS on is here to make decisions smarter, faster, and more rewarding.' 'At Cleartrip, we are observing a significant uptick in UPI adoption as a preferred mode of payment among flight bookers,' said Manjari Singhal, Chief business and growth officer, Cleartrip. 'This trend is even more pronounced among Gen Z travellers, who are drawn to the ease, speed, and debt-free nature of UPI transactions. This shift reinforces our commitment to serving one of the fastest-growing customer segments in the travel space.' As 85% of digital transactions in India now take place via UPI (IMF, 2024), is building the ecosystem Gen Z expects: where payments aren't just functional but empowering. Travel, once considered a luxury, is now a lifestyle choice and is making sure payments keep up. The launch of FLIGHTS cements role as a category-defining force, and a one-stop destination for India's new-age consumers looking for simplicity, control, and real-time value. About by Flipkart Group is a pioneering UPI fintech platform dedicated to revolutionizing India's payment landscape. The app aims to empower users with a seamless, secure, and user-friendly UPI experience, integrating innovative credit solutions directly into everyday transactions. By offering immediate cashbacks on every UPI payment, delivers instant rewards and enhances the financial experience. With a commitment to security, simplicity, and innovation, aims to set a new standard in financial independence and user satisfaction. is ISO27001 and PCI DSS certified. To know more, visit or write at help@ Social Handles: LinkedIn - X/Twitter - @getsupermoney Instagram - (Disclaimer: The above press release comes to you under an arrangement with Newsvoir and PTI takes no editorial responsibility for the same.). PTI This is an auto-published feed from PTI with no editorial input from The Wire.
Fashion Value Chain
29-07-2025
- Business
- Fashion Value Chain
super.money Diversifies into Travel with FLIGHTS Launch; Strengthens Position as the Most Rewarding UPI Platform
one of India's fastest-growing UPI-first platforms, today announced the launch of 'FLIGHTS' – a reimagined, rewards-first flight booking experience built primarily for Gen Z travellers. Powered by Cleartrip, this new feature enables users to book domestic flights seamlessly via UPI, while unlocking an exclusive 5% benefit that stacks on top of other offers, making it the most rewarding way to book flights today. forays into Travel with FLIGHTS Launch This launch furthers ambition to redefine what UPI can do. With FLIGHTS, strengthens its position as a trailblazer, transforming UPI from a basic transaction tool into a platform for meaningful, high-value commerce. It bridges the benefits gap between credit cards and UPI, while keeping payments simple, secure, and instant. Recent Cleartrip data highlights that Gen Z consumers (those born between 1997 and 2012) are driving a shift in travel behaviour: opting for solo experiences, prioritising comfort and personal freedom, and choosing UPI and debit cards over credit-based payments. In fact, Gen Z leads in UPI usage, with 10% more UPI transactions than any other cohort. is directly addressing this shift by giving young Indians a way to book flights using just UPI – without sacrificing rewards, benefits, or control. This aligns with Gen Z's preference for ease, instant gratification, and debt-free financial choices. 'With 'FLIGHTS,' we are embedding value directly into travel bookings on UPI,' said Prakash Sikaria, Founder & CEO of 'This move reflects our larger vision to make UPI not just about daily spends but about enabling life's bigger moments too. Whether it's booking a solo trip or a dream holiday, FLIGHTS on is here to make decisions smarter, faster, and more rewarding.' 'At Cleartrip, we are observing a significant uptick in UPI adoption as a preferred mode of payment among flight bookers,' said Manjari Singhal, Chief business and growth officer, Cleartrip. 'This trend is even more pronounced among Gen Z travellers, who are drawn to the ease, speed, and debt-free nature of UPI transactions. This shift reinforces our commitment to serving one of the fastest-growing customer segments in the travel space.' As 85% of digital transactions in India now take place via UPI (IMF, 2024), is building the ecosystem Gen Z expects: where payments aren't just functional but empowering. Travel, once considered a luxury, is now a lifestyle choice and is making sure payments keep up. The launch of FLIGHTS cements role as a category-defining force, and a one-stop destination for India's new-age consumers looking for simplicity, control, and real-time value. About by Flipkart Group is a pioneering UPI fintech platform dedicated to revolutionizing India's payment landscape. The app aims to empower users with a seamless, secure, and user-friendly UPI experience, integrating innovative credit solutions directly into everyday transactions. By offering immediate cashbacks on every UPI payment, delivers instant rewards and enhances the financial experience. With a commitment to security, simplicity, and innovation, aims to set a new standard in financial independence and user satisfaction. is ISO27001 and PCI DSS certified. To know more, visit or write at help@ Social Handles: LinkedIn – X/Twitter – @getsupermoney Instagram –
Mint
02-07-2025
- Business
- Mint
slice launches first UPI-powered bank branch in Bengaluru
Fintech company slice has rolled out slice UPI credit card and UPI-powered physical bank branch and ATM which accepts cash in Koramangala, Bengaluru. The slice UPI credit card charges no joining or annual fee. It delivers an effortless credit experience that feels as natural as any UPI transaction. Users can simply scan QR codes or make UPI payments, drawing effortlessly from their credit line. The slice UPI credit card rewards customers up to 3 per cent cashback on all spends while the innovative slice in 3 feature offers an instant ability to convert spends into three interest-free instalments. The slice super card advances slice's ambitious vision of democratising formal credit access across India. UPI has revolutionised digital payments for more than 400 million Indians, making most of them credit-eligible in the process. 'In my 40 years of banking, I have witnessed several milestones, but I feel truly proud to be part of what I see as a revolution in how India will perceive banking and finance,' said Satish Kumar Kalra, MD and CEO of slice. 'We are reimagining banking from first principles, building a system where technology, simplicity, and trust come together to serve every Indian. Credit on UPI will be the next big leap for credit access and inclusion in this country, and there is no better way to achieve it than by integrating the entire banking system around it. This is just the beginning of a journey that will redefine banking as we know it.' Unlike much of the fintech industry that relies on third-party banking partners, slice operates as a bank, owning every element of its infrastructure - from core banking systems to advanced underwriting capability. With deep roots in the Northeast, this step into Bengaluru marks a defining moment in the bank's journey toward physical expansion across India and its broader growth story. He adds: 'The real opportunity is to deliver the right form of credit at the point of sale, through a mobile interface, for 300 million customers. Tens of millions of these merchants have never accepted credit cards before, so we must solve fraud at scale while also enabling credit for those who are truly creditworthy. And with slice UPI ATMs we want to reduce the cost of deposit and withdrawal of cash to a level that basic banking services are economically viable for a billion Indians in the future.' The new slice UPI-powered bank branch in Koramangala, Bengaluru, transforms banking from a necessity into an experience. slice customers can now walk into the first digital bank branch to experience unprecedented convenience, speed and ease of access. Customers can make withdrawals as well as deposits to and from the UPI ATM, open accounts and explore other banking products from kiosks. The slice UPI-first digital bank branch delivers complete UPI integration across every customer interaction, instant customer onboarding with streamlined processes, self-service digital experiences that prioritise efficiency and UPI ATM services for cash deposits and withdrawals. Disclaimer: Mint has a tie-up with fintechs for providing credit, you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. Mint does not promote or encourage taking credit as it comes with a set of risks such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit. Visit here for all personal finance updates
Time of India
27-06-2025
- Business
- Time of India
Decoding Pine Labs' DRHP: Fintech aims to raise Rs 2,600 crore via an IPO
Academy Empower your mind, elevate your skills Invest in payments infrastructure (which can help in cross-selling products), offer credit solutions at checkout, and build customer loyalty. The company wants to target midmarket and smaller merchants for future growth opportunities. With its UPI-first merchant payments platform Pine Labs also wants to get into the micro-merchant ecosystem, a sector dominated by QR code companies such as BharatPe and PhonePe. Another area of focus for Pine Labs will be international expansion, especially in Southeast Asia and West Asia. The company is focusing on global expansion to target fatter margins in those geographies and harness advantages of scale to boost the margins of the overall business. Having expanded a large part of the tech-first business through the acquisition route, Pine Labs wants to continue with this strategy and tap inorganic growth opportunities wherever possible. Merchant payments, both in-store and online Fintech infrastructure plays to help other financial services players build fintech products through APIs. Credit solutions at checkout points, which can help merchants increase their customer loyalty and engagement with brands. Pine Labs gets a fee for processing transactions for these merchants or brands. 4. Pine Labs wants to double down on its platform for issuing prepaid instruments such as gift cards and also for acquiring merchants for banks, helping them with digital payment solutions. Noida-headquartered merchant payments company Pine Labs has filed its draft red herring prospectus (DRHP) with stock market regulator Sebi. The company plans to raise Rs 2,600 crore through a fresh issue and an offer for sale (OFS) of up to 147.8 million by global investors such as Peak XV Partners (formerly Sequoia India ), Mastercard, PayPal and Temasek, Pine Labs is seeking a valuation of around $4-5 billion through this public issue, according to people in the payments company was primarily owned by Peak XV Partners until 2018 and has attracted global investors to its cap table over the last six years. The company raised more than a billion dollars in venture funding and Peak reduced its shareholding to around 20% from around 90% six-seven years back. In 2022, Pine Labs achieved a valuation of $5 the global institutional investors, Pine Labs also counts multiple founders in the Indian startup ecosystem among its individual investors. Dream11 founder Harsh Jain, Indifi cofounder Alok Mittal, Swiggy cofounder Sriharsha Majety, Freshworks founder Girish Mathrubootham, and Unacademy's Gaurav Munjal have been mentioned as shareholders in the Sebi approval comes and the book building process is completed, Pine Labs will become the third venture-funded payments company to list on the Indian stock exchanges. Paytm and Mobikwik are the two other listed payment looks at the major aspects of the draft prospectus filed by Pine Labs was initially built as a point of sale (PoS) company to service retailers. But over the last five years, the company has transformed into a larger fintech firm, in part by taking the inorganic 2019, Pine Labs entered the gift card space by acquiring Accel-backed Qwikcilver Currently, Pine Labs has taken the gift card solution to new geographies, including the US and acquiring PoS company Mosambee , Pine Labs, which was a major player in the organised retail segment, marked its entry into the small and medium enterprise segment, digitising payments among longtail merchants as acquiring Southeast Asian fintech platform Fave , Pine Labs managed to set foot in that market. The acquisition also allowed Pine Labs to build a consumer-facing presence in India, offering Unified Payments Interface ( UPI ) payments and a bid to compete with the omnichannel business bets of Razorpay and Paytm, Pine Labs also entered the online payments business By diversifying its business bets, Pine Labs ensured that it had an entire bouquet of offerings for its clients with a diversified revenue Labs serves 915,731 merchants, 666 consumer brands and enterprises, and 164 financial institutions across India and overseas, according to details shared in its prospectus. This makes it one of the largest merchant payment processors in the had remained elusive for years, but in the last financial year, Pine Labs crossed the Rs 100 crore monthly revenue run rate and turned profitable in the first nine months of the year (Q4 and full-year results have not been given in the DRHP). It reported a net profit of Rs 26 crore on an operating revenue of Rs 1,208 comparison, Paytm, which has a large consumer facing business along with a merchant payments arm, reported Rs 6,900 crore in revenue in FY25. CCAvenue, another predominantly online merchant payments firm, reported total revenue of Rs 3,276 crore in FY25 and a net profit of Rs 160 Labs has increased its revenue 44% in three years, from Rs 933 crore in FY22 to Rs 1,344 crore in FY24. Last year it had reported a net loss of Rs 187 Labs will invest in product building in a bid to remain competitive, according to the prospectus. It has set out the following targets for business veterans who have tracked Pine Labs for years pointed out that the company has transformed itself to stay competitive in the era of fintech disruptors. However, the transformation resulted in its expenses shooting up to Rs 1,877 crore in FY23; this was brought down to Rs 1,622 crore in with zero-MDR payment instrument UPI displacing debit cards as a major merchant payment mode, processors such as Pine Labs have missed out on a major revenue generation Labs has structured its business across four major company visualises itself as being at the intersection of payments, brands, merchants, and credit and financial services players like the last few years, with UPI becoming the default payment mode for Indian consumers at merchant outlets, generating revenue from core payments has become a challenge for every payment processor. By betting on new revenue lines through value-added services and credit products, companies such as Pine Labs are hoping to widen their business margins.
Economic Times
16-05-2025
- Business
- Economic Times
UPI extras miss mark; Amazon streamlines India ops
Happy Friday! Most new features on United Payments Interface (UPI) have struggled to gain meaningful traction over the years. This and more in today's ETtech Morning Dispatch. Also in the letter: ■ PB Fintech profit triples■ GIC seeks CCI nod for Groww stake■ Uptick in SaaS M&A deals UPI Lite and wallet-based pay off to a slow start as UPI payments climb In recent years, the National Payments Corporation of India (NPCI) has rolled out several new features—UPI Lite, wallet-based payments, recurring payments via UPI, UPI through RuPay credit cards, and UPI Circle. Yet, most have seen limited adoption. Driving the news: According to multiple sources, features like UPI Lite, wallet-based UPI payments, and RuPay card usage on UPI are seeing just 80-150 million monthly transactions. While not insignificant, these numbers appear modest given UPI's massive scale. Going deeper: Industry insiders cite several challenges hindering adoption: Fintechs such as PhonePe, Google Pay, and Paytm have done little to promote these features. The lack of financial incentives means big players primarily use UPI to drive traffic to their revenue-generating products. Banks are reluctant to invest in building and maintaining tools that show weak traction. Fresh challenges: Despite UPI's runaway success, NPCI must now prove its innovation muscle. Features like UPI Lite and wallet-based payments were designed to ease pressure on core banking systems. Their failure to scale undermines that goal and the NPCI's ambition to evolve the platform. Also Read: Behind UPI-first digital payment apps' latest plan to revamp their mobile wallet operations Amazon India's board clears logistics arm & marketplace biz merger Amazon Transportation Services (ATS), the logistics arm of American ecommerce giant in India, is merging with Amazon Seller Services, the primary marketplace unit in the country. Driving the news: The National Company Law Tribunal (NCLT) has granted interim approval for the merger. In its filings with the NCLT, Amazon stated that the move aims to: Reduce legal and regulatory compliance requirements Enable more efficient management of infrastructure and resources across both companies. For context: ATS was launched in 2013 as an in-house logistics service for Amazon's ecommerce marketplace in India. The unit still generates more than 95% of its revenue from Amazon. In 2023, ATS began offering its services to third-party clients as well. Rival watch: Flipkart operates its own logistics arm, Ekart Logistics. Meesho, backed by SoftBank, launched Valmo last year to serve its sellers. Financial snapshot: ATS reported a 7.6% YoY rise in operating revenue for FY24 to Rs 4,889 crore. Amazon Seller Services reported Rs 25,406 crore in operating revenue during FY24, up 14%. Also Read: CAIT calls for ban on sale of Pakistani flags, merchandise on Amazon, Flipkart Flipkart helps deliver strong Walmart ad business Ecommerce giant Flipkart has powered a strong quarter for its US-based parent Walmart, contributing to a 20% rise in international advertising revenue for the three months ending April 30. Walmart Q1 results: Walmart International reported net sales of $32.1 billion for the February-April quarter, marking a 7.8% year-on-year increase. Growth in constant currency terms was primarily driven by Flipkart, alongside strong performances from Walmart's businesses in China and Walmex (Mexico and Central America). In numbers: Flipkart Internet, the marketplace arm of Flipkart, earned nearly Rs 5,000 crore from advertising in the financial year ending March 2024, outpacing the Rs 3,734 crore generated from marketplace fees. Also Read: Flipkart may limit its quick commerce expansion to top cities to reduce burn Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: ETtech Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and employees. The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: Interested? Reach out to us at spotlightpartner@ to explore sponsorship opportunities. PB Fintech profit triples in Q4, revenue up 38% Alok Bansal and Yashish Dahiya, founders, PB Fintech group PB Fintech posted an 181% year-on-year (YoY) jump in net profit to Rs 171 crore for the quarter that ended March 2025, driven by strong performance across its business verticals. Q4 highlights: Net profit: Rs 171 crore, up 181% YoY Rs 171 crore, up 181% YoY Revenue: Rs 1,508 crore, up 38% YoY Rs 1,508 crore, up 38% YoY Expenses: Rs 1,437 crore, up 29% YoY (from Rs 1,145 crore in Q4 FY24) Tell me more: The robust profit growth was fuelled mainly by steady momentum in the insurance business, alongside strong disbursals in secured loans such as home loans and loans against property, which boosted the lending vertical. The slower pace of expense growth relative to revenue also contributed to the improved bottom line. Insurance business (Policybazaar): Q4 premium collection: Rs 7,030 crore (vs Rs 2,176 crore in Q4 FY24) FY25 total premium processed: Rs 23,486 crore Also Read: PB Healthcare secures $218 million from General Catalyst, PB Fintech, others GIC seeks CCI nod for Groww stake ahead of IPO Lalit Keshre, CEO, Groww Singapore's sovereign wealth fund GIC has sought the Competition Commission of India's (CCI) nod to acquire a 2.14% stake in wealthtech startup Groww through its affiliate Viggo Investment. Why it matters: The move is part of Groww's $200 million pre-IPO funding at a 6.5 billion valuation, as reported by ET on March 26. As we reported earlier, this will nearly double its 2021 private market valuation. The big picture: Groww, now India's largest stockbroker by active clients, recently shifted its domicile to India and is gearing up to file its IPO papers soon. Also Read: Groww gets CCI approval for bonus shares, founders relinquish extra voting rights Other Top Stories By Our Reporters Trump wants Apple to stop moving iPhone production to India: President Donald Trump asked Tim Cook to halt production in India and move back to the US, as the iPhone maker plans to diversify its manufacturing beyond China. SaaS sees an uptick in mergers, buyouts as AI flips the script: As smaller software-as-a-service (SaaS) companies struggle to raise funds and scale operations amid the AI boom, M&A deals increased 19% sequentially and 31% annually in the March quarter. New-age ice cream brand Hocco raises $10 million: The latest funding round was co-led by the Chona family office and Sauce VC, and funds were earmarked for expansion, capex, innovation, marketing, and more. Global Picks We Are Reading ■ US tech visa applications are being put through the ringer (Wired) ■ AI therapy is a surveillance machine in a police state (The Verge) ■ Apple finally launches next-gen 'CarPlay Ultra' software, starting with Aston Martin (TechCrunch) Updated On May 16, 2025, 07:14 AM IST
