Fintech platform super.money has reached a major milestone by helping issue more than 470000 RuPay credit cards in the past year through collaborations with three banking partners. The company said this growth reflects its focus on bringing digital credit access to first time users across the country.
The Bengaluru based platform also reported that over 1.8 million RuPay credit cards have been linked to UPI through its system, showing rising adoption of credit based digital payments.
super.money has partnered with Axis Bank, Kotak811 and Utkarsh Small Finance Bank to issue secured RuPay credit cards. The firm said it plans to increase its partnerships with more banks as demand continues to rise.
The company highlighted a clear shift in spending patterns among its users. It said the average transaction value shows that consumers are moving from large purchases to frequent micro transactions. According to the statement, this indicates that people are increasingly using credit for smaller daily expenses and at local merchants.
Citing data from the National Payments Corporation of India, super.money said it is currently the fifth largest UPI app by transaction volume. In September, it processed more than 256 million transactions with a total value of Rs 9852.44 crore.
Prakash Sikaria, chief executive officer of super.money, said the company’s efforts are enabling many users to get their first credit card. He said, “Through our partnerships with issuer banks and meaningful use of the RuPay network, we are providing ‘first time credit cards’ to lakhs of Indians, especially across underserved segments.”
He added that this growth supports the company’s vision to promote financial inclusion and strengthen India’s digital economy.
Backed by the Flipkart Group, super.money continues to grow its presence in the neo banking and financial services space. Sikaria recently said in an interview with a news publication that the company plans to roll out several new financial products as part of its expansion.
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