Super.money Expands Credit Offerings Through BharatX Acquisition
Super.money, a leading unified payments interface (UPI) application, has announced its acquisition of the fintech startup BharatX. This strategic move aims to enhance the company’s credit services, especially in the area of checkout financing.
While the financial specifics of the acquisition remain undisclosed, the integration of BharatX’s core team is expected to significantly enrich Super.money’s capabilities. The goals include leveraging BharatX’s expertise and technology to broaden the super app’s credit offerings through UPI.
As stated by Super.money, this acquisition aligns with its commitment to making financial services more accessible. The company focuses on providing straightforward, flexible, and hassle-free credit alternatives to its users.
Additionally, Super.money has obtained BharatX’s technology, intellectual property, and team. BharatX will continue to operate temporarily to manage current loan cycles before eventually ceasing its operations.
Launched by e-commerce giant Flipkart in June of the previous year, Super.money aims to deliver payments, credit, deposits, and various digital financial services to consumers.
Currently, PhonePe leads the UPI market with a 47.67% share, followed by Google Pay at 36.38%, and Paytm holds 6.78%. Super.money also ranks among the top 10 UPI apps based on the number of transactions managed.
