The number of digital payments in the nation is rising quickly. The RBI has, in a sense, dealt Paytm Payment Bank a blow. Conversely, Flipkart has just launched its UPI service. Flipkart will also offer the UPI facility, following Amazon. This service is for transactions that take place inside or outside of the Flipkart app, both online and offline.
For these UPI services,
the private sector Axis Bank and the e-commerce company Flipkart have teamed. This information has been provided by Flipkart. According to the corporation, users would find it much simpler to make digital payments with this capability. The business spent a lot of time testing. Allow us to inform you that the business has been trying UPI services for a while. This service is currently only available to Android users. Clients can register using “@fkaxis” as their UPI handle. You can use this facility to access all the features, including the ability to make payments and conduct transactions.
2019 saw the introduction of credit cards.
In 2019, the business also introduced a co-branded credit card in partnership with Axis Bank. Following the introduction of the first credit card, this is the bank’s second technology service. These amenities will be accessible. You will be able to use all of Flipkart’s services, such as online and offline payments, bill payments, and recharge, through the UPI feature. With this UPI feature, clients will get a different experience of digital payment.
Let us inform you that at the same time
that the RBI has taken significant action against Paytm Payment Bank, and Flipkart has entered the UPI facility. Paytm is presently dealing with a regulatory issue. The fintech industry currently includes a large number of businesses. Numerous businesses in the nation, including PhonePe, Google Pay, and Amazon Pay, offer similar services.
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