Flipkart’s fintech venture, Super.Money, has introduced a new co-branded credit card named SuperCard, in partnership with Utkarsh Small Finance Bank. This card allows users to make payments through regular channels as well as UPI, using Super.Money’s ‘Scan & Pay’ feature. The move comes as UPI continues to gain traction among credit card users in India, with a growing number of cards being issued on the RuPay network.

How does it work?

The SuperCard stands out for its flexible credit limit, starting as low as Rs 90. Users can set their credit limit by making a deposit ranging from Rs 100 to Rs 10 lakh. This approach caters to a broad spectrum of customers, allowing more people to access credit through UPI. “Additionally, the deposit earns interest, offering users the dual advantage of building credit while earning returns,” Super.Money said in a press release.

Also read | MUFG INVESTS ADDITIONAL $334 MILLION IN DMI FINANCE

“While credit on UPI has been addressed, there is still the challenge of bringing more people into the mainstream credit system, especially those with limited data for underwriting. This universal credit card offers millions of Indians a way to formalise their credit journeys,” said Prakash Sikaria, Founder and CEO of Super.Money.

For more updates, click here.