News Summary

Flipkart’s fintech arm, Super.money, has partnered with Kotak811, the digital offering of Kotak Mahindra Bank, to create a ‘3 in 1 Super Account’ that integrates UPI payments, savings, and a fixed-deposit-backed secured credit card. This initiative aims to issue 2 million secured credit cards within the next 12 months, targeting first-time borrowers. The collaboration is set to expand credit access in India and aims to contribute significantly to Super.money’s revenue as it strives for profitability by 2026. Super.money, already a leading UPI platform in India, plans to leverage this partnership alongside its existing tie-up with Utkarsh Small Finance Bank and recent collaboration with Juspay to enhance its financial services and customer acquisition strategies. Flipkart has invested $50 million in Super.money, which is also exploring additional capital raise opportunities.