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What happened
Super.money, a financial service platform launched by Flipkart, has formed a partnership with Juspay to enhance its direct-to-consumer (D2C) checkout capabilities through a new product called Super.money Breeze. This initiative aims to simplify online transactions by eliminating one-time passwords and repeated logins, thereby improving the user experience. The partnership is particularly crucial for Juspay, which has faced challenges in regaining merchant trust after losing clients to competitors. Super.money is targeting $100 million in annual revenue by 2026, focusing on its secured credit card offerings and personal loans. The company has already issued around 300,000 secured cards and is adding approximately 50,000 new cards monthly. With Flipkart's backing, Super.money aims to establish a standalone identity in the e-commerce ecosystem while navigating increasing competition from established players like PhonePe and Google Pay.
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Key insights
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D2C Checkout Launch
Super.money Breeze aims to streamline online purchases.
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2
Revenue Target
Super.money targets $100 million in annual revenue by 2026.
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3
Secured Credit Cards
Super.money holds a 10% market share in secured credit cards.
Takeaways
Super.money's partnership with Juspay represents a strategic move to enhance its market presence and revenue potential in the competitive fintech landscape.