Flipkart’s Super.money teams up with Kotak811

Flipkart’s fintech arm, Super.money, has partnered with Kotak811, the digital banking division of Kotak Mahindra Bank, to create a new kind of financial account. The collaboration aims to combine UPI payments, savings accounts, and secured credit cards under one platform — turning India’s free payment system into a rewarding experience.

UPI meets savings and credit

The partnership introduces the 3-in-1 Super Account, designed to offer users a single space for payments, savings, and credit. With a minimum fixed deposit of ₹1,000, users can open an account that earns interest, provides cashback, and even enables UPI on credit — a first for many.

This setup helps users, especially first-time borrowers, access secured credit without income proof. In return, Super.money and Kotak811 gain a path to sustainable monetization in a market where UPI transactions carry no fees.

Super.money’s growth and future goals

Launched in June 2024, Super.money has rapidly grown into one of India’s top five UPI apps. It now handles over 200 million transactions a month, according to data from the National Payments Corporation of India (NPCI).

The platform already serves around 10 million active users and generates about $3 million in monthly revenue. By joining hands with Kotak811, the company plans to issue two million secured credit cards within a year, with 60% of them going to new borrowers.

Super.money expects this partnership to contribute 10% of its total revenue in the next financial year.

A business model built for the future

Super.money’s approach rests on two pillars — financial services and commerce. Beyond UPI and savings, the company plans to introduce a Klarna-style “pay-in-three” model, allowing users to buy now and pay later across Flipkart’s ecosystem.

According to Prakash Sikaria, CEO of Super.money, UPI acts as an engagement hook. The goal is to retain users by offering more value — through rewards, cashback, and credit access — within the same app.

Strengthening fintech through partnerships

The alliance with Kotak Mahindra Bank, India’s fourth-largest lender, strengthens Super.money’s position in regulated banking. It also follows an earlier collaboration with Juspay, which introduced a one-click checkout experience for over 1,000 online merchants, primarily direct-to-consumer (D2C) brands.

The secured credit cards offered through the new partnership earn merchant discount revenue, funding the cashback and rewards system. This structure allows Super.money to maintain profitability while keeping UPI payments free for users.

What lies ahead

Super.money plans to issue about 200,000 secured cards each month through Kotak811 and later expand to other banks. Flipkart has already invested $50 million into the venture and may raise more funds as the business scales.

Sikaria confirmed that the fintech is targeting India’s top 10–30 million digital-first users, focusing on profitable growth rather than volume competition with players like PhonePe or Google Pay.

With this partnership, Flipkart’s Super.money is not just adding another financial product — it’s redefining how India’s UPI ecosystem can generate value for users and banks alike.