Flipkart's Super.money Partners with Kotak811
Flipkart's fintech arm Super.money has partnered with Kotak811 to revolutionize India's digital payments landscape.
The partnership aims to issue approximately 2 million fixed-deposit-backed credit cards within the next 12 months, with around 60% of these cards going to first-time borrowers.
- 5 million secured credit cards are expected to be issued within 2 years.
- Super.money currently serves 10 million active users.
Super.money expects the Kotak alliance to contribute around 10 percent of its revenue next year as it works toward profitability by 2026, said chief executive Prakash Sikaria.
The partnership seeks to turn usage into profit by bundling UPI payments, savings, and secured credit into a single account.
Author's summary: Flipkart's Super.money partners with Kotak811 to issue credit cards.