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Launch · Financial Services

Super.money launches splitStore for zero-interest instalments

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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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