What is Flipkart's "world’s most expensive ad" all about. Find out
Flipkart released a print ad for the launch of its UPI services in collaboration with Axis Bank.
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Flipkart, in collaboration with Axis Bank, introduced its UPI services named Flipkart UPI on Sunday. Initially, it will be accessible for Android users. Following the UPI rollout, Flipkart plans to incorporate loyalty features like Supercoins, cashback, milestone rewards, and brand vouchers.
The brand utilised print advertising to boost awareness of its UPI services. Flipkart released the print ad on the fromt page of a national daily with the headline - "Is this the world’s most expensive ad?". Offering a QR Code for scanning, the brand stated that individuals who scan this advertisement to register with Flipkart UPI will receive 10 Super Coins for free. Each Super Coin provides benefits starting at Re 1. The brand added, “So one scan costs us Rs 10, 100 scans cost Rs 1000, 100k scans cost us Rs 10 lakh, 1.4 bn scans, challenge accepted.”
Flipping the front page, Flipkart designed a full-page advertisement resembling a crossword puzzle, encouraging audience participation in discovering answers to the question "What else can you scan and spend on with Flipkart UPI?"
Flipkart has been experimenting with its UPI service since the previous year, enabling users to conduct UPI payments seamlessly within its platform, eliminating the need to switch to other applications. The emergence of UPI offerings by consumer internet companies holds importance as it signifies NPCI's efforts to diversify UPI usage, reducing dependency on a limited number of players.
LinkedIn user Garima Choudhary, Senior Manager, Flipkart UPI & Digital Payments at FPG stated, "Delighted to witness the 'Emotional & Proud' Moment of going live with Flipkart UPI. What an overwhelming journey from the Day 0 to start on building for Flipkart UPI till today when I see it everywhere on print media, social media, LinkedIn posts! I thank everyone with whom I had the chance to learn and grow through this journey and supremely obliged to be a part of it."
Another LinkedIn user Amit Panda wrote, “Flipkart launches its own UPI service to rival Amazon, Paytm, and PhonePe, offering users a convenient way to make payments within the app and beyond. This move positions Flipkart as a one-stop shop for online shopping and digital payments, potentially impacting the market dominated by players like Amazon Pay, PhonePe, and Paytm. Users can now manage payments directly within the app, simplifying their shopping experience, and utilise the service for various transactions, including bill payments, recharges, and in-store payments via QR codes. This entry into the digital payments market could lead to increased competition, potentially resulting in more benefits for users. It's an intriguing development in the Indian e-commerce and payments space, and it will be fascinating to see how it unfolds”!
Flipkart has introduced 'India's Most Rewarding UPI' as its tagline. In October 2023, Flipkart launched a print ad with QR codes for its Big Billion Day sale offers. This move intensifies competition with rivals like Amazon's Payment vertical, Paytm, PhonePe, and Google Pay in the UPI payment services arena. Loyalty features such as Supercoins, cashback, milestone benefits, and brand vouchers will be available post the UPI launch. Following its acquisition of PhonePe in 2016, Flipkart officially demerged from the payments firm in late 2022.
Dheeraj Aneja, Senior Vice-President - Fintech and Payments Group at Flipkart highlighted the launch of Flipkart UPI as a seamless integration of UPI's convenience with Flipkart's trusted efficiency. He emphasised Flipkart's commitment to providing the best commerce experience, offering safe payment options and rewards such as Supercoins and Brand Vouchers. Aneja also underscored Flipkart UPI's significance in shaping a digitally empowered society, reaffirming the company's leadership in India's digital evolution.
