Launch · Financial Services
Super.money launches splitStore for zero-interest instalments
By Startup Enthusiast ·
- Date
- Company
- Super.money
- What it does
- UPI payments and credit app
- Kind
- Launch
- Sector
- Financial Services
What they do
Super.money is a UPI payments app that also offers credit cards, deposits and loans
What happened
It launched splitStore, an in-app marketplace where eligible users can split payments without interest or fees
Why it matters
The marketplace has over 60 lakh products and uses Flipkart's logistics for delivery
The details
- super.money launched splitStore, an in-app marketplace for zero-interest instalment shopping.
- splitStore lets eligible users split payments without a credit card, processing fee or interest.
- The feature is currently live for select users, with a wider rollout underway.
- splitStore offers over 60 lakh products across smartphones, fashion, electronics, appliances, beauty, fitness, home and furniture.
- Brands on splitStore include Apple, Nothing, Nike, Adidas, Marshall, Mokobara and Snitch.
- Deliveries are handled through Flipkart's logistics network.
- Users access the instalment facility after KYC verification, with credit provided via regulated lending partners.
The bigger picture
- super.money is the fifth largest UPI app by transaction volume as of June, behind PhonePe, Google Pay, Paytm and Navi.
- The company already offers UPI payments, secured RuPay credit cards, checkout financing and personal loans.
- Founder Prakash Sikaria said the next opportunity after UPI is transforming how India shops with affordability at checkout.
About the business
- super.money is a UPI payments app that also offers credit cards, deposits and loans.
- It offers up to 5% cashback on every merchant UPI transaction.
- It provides superCard (credit with UPI speed and cashback), superDeposit (up to 9% interest on fixed deposits), and superCash (instant pre-approved loans).
- The app is recognised and approved by NPCI.
- splitStore is a new in-app marketplace for zero-interest instalment shopping.
- The marketplace has over 60 lakh products across multiple categories.
- Deliveries are handled through Flipkart's logistics network.
What happens next
- Wider rollout of splitStore is underway.
The deal
- Type
- launch
Founders
- Prakash Sikaria, founder and CEO
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