Flipkart launches its own UPI service to boost digital economy
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Flipkart has unveiled its Unified Payments Interface service, aiming to improve digital payment options for its over 500 million users. The Flipkart UPI will allow customers to create their own UPI handle for merchant transactions both on and off the platform. To note, in 2023, UPI handled more than 117 billion transactions valued at nearly Rs. 183 lakh crore, illustrating a vibrant landscape involving banks, payment service providers, and fintech companies.