Flipkart, India's e-commerce giant, has quietly started rolling out its own payments app, Super.money, as it expands fintech ambition more than a year and a half since the e-commerce company separated from PhonePe, an early mover in financial inclusion.

The new app from the Walmart-owned firm is live in beta on Play Store, with an interoperable network that's the most popular way Indians transact online-the option to make mobile payments via UPI. In order to attract customers, Super.money has promised "real cashback" and not "useless rewards" for paying, sending, or receiving money via the application, according to the Android app description.

According to descriptions in the application, the firm part of Flipkart Group also plans to add secured cards and lending as a part of its offering. On the website of Super.money, DMI Finance, Axis Bank, and Credit Saison India appear as amongst its partners.

A Super.money representative said that the namesake app would enter beta launch. "With clutter-free UX and a focus on super quality rewards per transaction, Super.money aims at changing the way people interact with and consume financial services. In the following weeks, the Super.money team will look at the customer feedback and further fine-tune the product," said the representative.

The launch is a sequel to Flipkart's separation from PhonePe late last year. PhonePe has emerged to become the largest mobile payments app in India, handling nearly 50% of all transactions on the UPI network.

According to reports released at the time of the news through TechCrunch, Flipkart had no immediate plans for entry into the mobile payments space even after its split from PhonePe. It does have experience in financial services, having lent money to merchants for a while and partnering with lenders to offer installments to customers.

One such area evolving at breakneck speed is the digital payments and finance services space-presenting incredible opportunities for innovation. super.money's vision is to democratize access to financial services by leveraging the UPI infrastructure. This aligns to the larger vision of financial inclusion that the Government has planned out. We have been working on several exciting products that we will be launching soon.

Flipkart is still the leader in India's e-commerce market, but HSBC estimated to have generated a sales figure of around $60 billion-$65 billion sales for last year. According to Bank of America, the site has more than two times daily active users Amazon India had during the holiday season-its biggest competitor. More than two-thirds of Flipkart's customers are located outside of the biggest cities in India, mainly from smaller Indian cities and towns. Flipkart is set to launch quick commerce services as soon as next month, taking on Amazon India in a domain where this American juggernaut dominates more and more cities.
 
Flipkart isn't the only behemoth revisiting the fintech space. Last month, Reliance's Jio Financial services launched its own payments app, which is currently in beta.