India is a developing country, and with that, change has become a daily routine. Every day there is something new, such as trending news, a viral app, or a tech update making headlines. One of the biggest shifts we’ve all seen is in how we make payments. Online payments have become a part of our daily lives, making things quicker, easier, and more convenient.
For the past few years, apps like PhonePe, Google Pay, Paytm, and CRED have ruled the digital payment space. But now, fresh players are entering the game, and they are dominating the existing players in the market. Navi made its entry a few years back, but recently, a new app called Super Money launched a year back. Super Money has surprised everyone by overtaking CRED and becoming the 5th largest UPI payment app by market share. As of January, Navi held a 1.5% market share, CRED had 0.9%, and Super Money stood at 0.7%. But in less than six months, Super Money silently jumped ahead, pushing CRED down on the table.
And now, a big question is rising: why is Super Money growing so fast? And who’s going to feel the heat? Super Money is a new-age UPI payments app launched by Flipkart in 2024. It’s built for speed, rewards, and simplicity. What makes it stand out is its real cashback feature: users can earn up to 5% guaranteed cashback on every merchant payment, without scratch cards or luck-based rewards.
The app connects easily with your existing bank account and offers faster camera-scan UPI payments. But Super Money is not just about payments. It also brings in smart financial tools like SuperCard (a UPI-based credit card), SuperDeposit (fixed deposits with up to 9.5% interest), and SuperCash (instant personal loans at competitive rates). With its cashback-first approach and Flipkart backing, Super Money is quickly becoming the go-to app for digital payments and simple, rewarding financial services.
Here, if you notice one important thing, you will get a different perspective. It is linked with Flipkart. Before launching Super Money, Flipkart already had experience in the UPI space. Back in 2016, Flipkart acquired PhonePe and helped it grow into one of the biggest digital payment platforms in India. For a few years, PhonePe operated as part of the Flipkart group and played a key role in driving UPI adoption across the country. But in 2022, the two companies officially parted ways, and PhonePe became a separate entity.
This didn’t mean Flipkart was done with the payments space. In fact, it gave them a chance to rethink and rebuild. With all the knowledge, experience, and learnings from PhonePe, Flipkart came back stronger with Super Money. They understood the market, the user behavior, and what people truly wanted from a UPI app. And this time, they launched something that was not just another payment app but a complete financial tool with rewards, savings, and credit all packed into one.
One of the biggest reasons UPI apps became so popular in India is because of cashback. In the early days, apps like PhonePe, Google Pay, and Paytm attracted users by giving small rewards and cashback on every transaction. These offers made people excited to use digital payments again and again, even for small amounts like ₹10 or ₹20. It was a simple trick, but it worked really well. People got into the habit of scanning QR codes just to see what they’d win next.
Now, Super Money is using that same strategy but doing it even better. Instead of giving random scratch cards or luck-based rewards, Super Money offers guaranteed cashback on every payment. This means users actually earn money every time they pay, not depending on chance. And that’s what’s helping the app grow fast. Users love getting something back instantly. When they get something every time they pay, it builds loyalty. Super Money understood this early success formula from other apps and simply upgraded it, making it one of the strongest reasons for its rise in the UPI race.
Another reason is the easy-to-use experience. The app is clean, fast, and simple to use, even for someone who’s not tech-savvy. Also, Super Money did not stop with just individual users. It partnered with a wide network of merchants and service providers, allowing people to pay for everything from utility bills to groceries in one place.
These are some reasons why Super Money is becoming popular and gaining traction. But this growth is seriously going to impact the existing players. Cred has already seen an impact in their market share, but if the same growth continues and in the coming days, if the app becomes popular, the next impacted player will be Paytm.
Paytm is already struggling to maintain its market share, but with the rise of new players, it may see the impact in coming days. Paytm’s share dropped from 7.03% in November 2024 to 6.87% in January 2025, showing signs of slowing down. On the other hand, Sachin Bansal’s Navi is gaining momentum rapidly, and it saw a jump of almost 20% in UPI transactions from 20.25 crore in December 2024 to 24.28 crore in January 2025.
It all clearly shows that the newer players are changing the UPI Payments scenario, and SuperMoney is leading the charge. Well, let’s see how each player will bring in strategies to sustain their existing market shares.
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