Super.money, the UPI payments platform backed by Flipkart, has acquired BharatX, a Y Combinator-backed startup specializing in checkout financing. The acquisition, whose financial details remain undisclosed, marks a strategic move by super.money to expand its buy now, pay later (BNPL) and installment-based payment solutions. By integrating BharatX's technology, the company aims to simplify credit access for millions of Indian consumers directly through UPI transactions.

Expanding Credit-on-UPI Solutions

Super.money views the integration of BNPL within UPI as a crucial step in reshaping financial access in India. The company is running two parallel workstreams—one focusing on Flipkart’s ecosystem and another targeting direct-to-consumer applications—with both expected to launch by the next quarter. By leveraging BharatX’s technology, super.money plans to enhance its credit offerings without directly underwriting loans, instead functioning as a technology service provider (TSP) that connects consumers with banks and NBFCs.

Strategic Partnerships and Growth Strategy

Unlike some of its competitors that operate as non-banking financial companies (NBFCs), super.money is positioning itself as a facilitator rather than a lender. By collaborating with multiple regulated entities, including banks and NBFCs, the company can scale more efficiently while mitigating regulatory risks. This strategy aligns with its broader goal of becoming a comprehensive digital financial platform beyond just payments.

Strengthening Market Position

Super.money has rapidly gained traction in India's competitive UPI payments market, ranking seventh among UPI apps with 124.83 million transactions valued at Rs 4,565.57 crore in January. The company has successfully expanded its user base by offering cashback incentives, making it one of the fastest-growing platforms in the space. The acquisition of BharatX further strengthens its position by adding credit offerings to its suite of financial products.

Beyond Credit: Expanding into Digital Savings

In addition to its credit expansion, super.money has been diversifying its financial services portfolio. In November 2024, it launched superFD, a fixed deposit product that allows users to invest seamlessly through UPI with interest rates of up to 9.5%. Designed to attract younger investors, the product supports deposits starting at Rs 1,000 and is backed by partnerships with RBI-approved small finance banks.

The acquisition of BharatX represents a strategic milestone in super.money’s journey toward becoming a leading financial services provider in India. With the integration of BNPL into UPI and an expanding suite of financial products, the company is well-positioned to redefine digital payments and credit accessibility. As it continues to scale, super.money remains focused on fostering financial inclusion while navigating the evolving regulatory landscape of digital lending.