A quiet partnership with a once-struggling payments company could give Super.money the edge it needs beyond Flipkart’s walls
Image by SumUp on Unsplash
When a major fintech player moves silently in the background, it’s usually worth paying attention. That’s exactly what’s happening right now with Super.money, Flipkart’s fast-rising fintech arm, and its newly revealed partner: Juspay.
Let’s unpack the why, what, and where this could lead.
What’s Super.money up to?
First, a quick rewind. Super.money launched as a payments app in June 2024, more than a year after Flipkart officially parted ways with its former fintech arm, PhonePe. Since then, Super.money’s growth has been rapid — it’s already one of India’s top five UPI (Unified Payments Interface) apps by transaction volume.
More than 200 million UPI transactions per month. That’s the kind of scale it’s been holding steady for months.
But now, the company is eyeing something bigger than just transfers. It’s not just about moving money — it’s about building a business on top of it.
Image by Thức Trần on Unsplash
Say hello to Super.money Breeze
Last week, Super.money quietly launched a new product called “Super.money Breeze.” It’s a checkout tool designed for direct-to-consumer (D2C) online brands, and it aims to make buying as effortless as it gets. Think: one-click checkout, no one-time passwords, no repeated logins.
The catch? Super.money didn’t exactly broadcast which payment partner is powering all of this.
But according to TechCrunch, it’s Juspay.
Why Juspay — and why now?
On the surface, partnering with Juspay may seem like an odd choice. The payment infrastructure firm has had a rocky year. Back in January, major gateways like Razorpay and Cashfree distanced themselves from Juspay, urging merchants to switch to their in-house processing tools. That move shook investor confidence and likely played into Juspay’s trimmed-down fundraising round — $60 million raised, down from expected ~$100 million.
But look closer and the move makes sense for both companies.
For Super.money, it’s a shortcut. Instead of building its own backend for seamless checkout, it borrows Juspay’s infrastructure — letting it go to market faster. For Juspay, this partnership is a much-needed win to rebuild its reputation with Indian merchants.
It’s a bet on convenience and speed, two things D2C brands (and shoppers) care about.
Image by Avery Evans on Unsplash
Beyond payments: credit, lending, and scaling up
Super.money may have started with UPI, but UPI doesn’t pay the bills. Literally — it has razor-thin margins.
That’s where secured credit cards and lending come in. Super.money is now a top issuer of secured credit cards in India, with around 300,000 cards issued and 50,000 being added every month. These are cards backed by customer deposits, issued in partnership with Utkarsh Small Finance Bank.
Credit cards and loans are where revenue starts to build. And they’re central to Super.money’s goal: reaching $100 million in annual revenue by 2026. This year alone, the company is on track to hit $30 million.
To get there, Super.money is also in talks for a large funding round next year, aiming for a $1 billion valuation. Right now, it’s backed by a $50 million internal investment from Flipkart — but external capital could help push it beyond Flipkart’s reach.
A different path from PhonePe
It’s worth noting how different this journey is from PhonePe’s. When Flipkart spun off PhonePe, it went on to dominate UPI but now operates independently under Walmart’s umbrella.
In contrast, Super.money is still tightly integrated into Flipkart’s engine. It isn’t blanketing cities with marketing — instead, it’s quietly adding features, building partnerships, and growing off Flipkart’s customer base. It’s lean too: around 130 to 150 employees servicing over 80 million users.
It’s a fintech building for the long haul, not just the PR splash.
The bigger picture
What makes this story interesting isn’t just what Super.money is doing — it’s what it signals.
While big names like Razorpay and PhonePe try to control every inch of their payment stack, Super.money is doing the opposite: it’s outsourcing smartly to move quicker. Partnering with Juspay — even while the company is recovering from industry pushback — is a bold and calculated move.
The success of this gamble could define whether Super.money becomes Flipkart’s next flagship fintech success… or gets lost in the noise of India’s crowded payment space.
Either way, it’s one to watch. Quiet growth is still growth — and sometimes, it’s the quiet players who end up changing the game.
