Super.Money, Backed by Flipkart, Acquires BharatX to Bring BNPL on UPI
Key Highlights
Super.Money, backed by Flipkart, has announced tech acquisition of BharatX.
The partnership allows Super.Money to bring BNPL and installment systems to its UPI platform.
Users are expected to get a quick access to BNPL offering.
Millions of people use UPI, which is the Unified Payment Interface, in India because it offers convenience. Now, the same payment system is about to get a boost with the integration of BNPL and, possibly, an installment mechanism. BNPL, an acronym for Buy Now Pay Later, is likely to be introduced to UPI via Super.Money. The Flipkart-backed UPI platform has acquired BharatX and is working to align its technology with the said mission.
If the tech acquisition of BharatX by Flipkart-backed Super.Money does go through, then it would be an uptick not only for the BNPL principle but also for the Indian UPI market. Users will be able to buy their favorite product and pay for it later, as per the schedule chosen at the time of purchase.
Super.Money, Backed by Flipkart, Onboards BharatX
The tech acquisition deal with an undisclosed all-cash transaction is mostly in the final stages. Super.Money has tentatively scheduled the launch of its new financial offering for the first quarter of financial year 2026, or Q1-FY2026. BharatX, providing quick financial checkout services, is bringing its technology to this partnership.
Prakash Sikaria, the Chief Executive Officer of Super-Money, in a conversation with YourStory, highlighted that they are aiming to become the largest player in checkout financing in the next few quarters. Sikaria further stated that there is scarcity in the market when it comes to flexible credit options, adding that the partnership with BharatX will help them build a sustainable and scalable model.
The BNPL and installment mechanism under this tech acquisition will first be deployed across the ecosystem of Flipkart and the merchant network of Super.Money. Then, it will be implemented in the market after a few quarters. Consumer durables is the first category that will benefit from this partnership.
Talking about the operation, Sikaria told YourStory that they intend to function as a TSP, or technology service provider, to offer a marketplace for credit instead of underwriting the loan itself.
Super.Money is moving forward with the tech acquisition of BharatX after seeing success in SuperFD. The financial product allows users to book a fixed deposit through UPI with a minimum amount of ₹1,000/-. Interest rates, as per the conversation, go as high as 9.5% and are targeted at younger investors.
What is BNPL?
BNPL - Buy Now Pay Later - is pretty much what the name suggests - customers can buy their products and pay for them at a later date. Unlike credit or loan facilities, BNPL does not charge interest rates provided payment due dates are duly by customers.
According to Statista, BNPL users were 5 million and 2 million for online and offline retail, respectively. The numbers are predicted to reach 30 million and 22 million, applicable in the same order, by 2026. Simply put, the BNPL segment is projected to grow in the next 1-2 years and an integration with the UPI will strengthen those projections.
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It is important to note that while BNPL does offer multiple advantages, there are also disadvantages associated with it. For instance, BNPL companies can impose heavy interest rates if the amount due is not paid on time. And, late payments to BNPL companies affect a customer’s credit score.
What to Expect from Super.Money’s Tech Acquisition of BharatX?
Super.Money, backed by Flipkart, is simultaneously exploring new financial products, and could expand beyond payments and credits in the times to come. The UPI platform currently ranks 6th-7th in the market. With the tech acquisition of BharatX, it aims to climb the ladder and get into the top five UPI platforms.
For users, this partnership means quick access to the BNPL facility, right at their fingertips, without having to navigate around different BNPL companies.
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