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Super.money, the financial services spin-off from Flipkart, has quietly entered a partnership with payments infrastructure firm Juspay as it expands its reach into direct-to-consumer (D2C) checkout solutions. The collaboration comes at a delicate time, as Juspay has been recovering from setbacks earlier this year that impacted its relationships with major payment gateways.
What the Partnership Entails
Last week, Super.money introduced its D2C checkout product, Super.money Breeze, designed to offer merchants a one-click checkout experience by cutting out steps like one-time passwords and frequent logins. Though Super.money did not publicly announce its backend partner, TechCrunch learned that Juspay is powering the payment infrastructure behind Breeze. In effect, Juspay handles routing, payment processing, and gateways behind the scenes.
Why This Move Matters
While Flipkart’s platform provides built-in scale and distribution advantages, this partnership signals Super.money’s ambition to become more visible outside Flipkart’s ecosystem. By powering D2C checkout, Super.money can onboard external merchants and build brand recognition beyond its parent’s inner circle.
For Juspay, the deal comes as a much‐needed boost. Earlier this year, it faced pushback from payment aggregators like Razorpay and Cashfree, which reduced reliance on Juspay and emphasized in-house infrastructure. The loss dampened merchant confidence and complicated Juspay’s fundraising prospects.
Industry Context & Challenges
India’s payments landscape has increasingly gravitated toward self-sufficiency: major players have moved away from third-party gateways to reduce dependency and margin leakage. Super.money’s choice to rely on Juspay deviates from this trend, likely because it accelerates product launch and technical integration without reinventing the payments stack.
Still, the backdrop is riskier now for Juspay. If compatibility, reliability, or regulatory pressure resurfaces, Super.money may bear reputational or operational costs. The partnership hinges on Juspay’s ability to rebuild trust, demonstrate performance, and reassure both merchants and customers.
Strategic & Financial Ambitions
The arrangement helps Super.money monetize its user base, not just through payments but by cross-selling credit cards, lending, and other financial products. Super.money already dominates in UPI transaction volume, placing it among India’s top UPI apps.
Beyond payments, Super.money is also issuing secured credit cards in partnership with a small finance bank, targeting 300,000 issued cards with ~50,000 new cards per month. This product suite and deeper merchant integration could serve as its sustainability path.
Risks to Watch & What Could Go Wrong
- Juspay’s infrastructure reliability and performance will be critical to merchant trust.
- Competition from established fintechs and payments players remains intense.
- Regulatory scrutiny in India’s payments sector is rising compliance lapses could be costly.
- Super.money must scale monetization (beyond payments) to justify its valuation and growth trajectory.
The Road Ahead
Super.money is reportedly targeting $100 million in annual revenue by 2026. With the new checkout product powered by Juspay, it aims to expand merchant adoption beyond Flipkart’s ecosystem. For Juspay, this is a critical moment: success here can rebuild its positioning. If the partnership holds, it may reshape how D2C payments evolve in India.
See our deeper dive into India’s payments war in India’s Fintech Payments War in 2025.