Flipkart launches online wallet Money to take on Snapdeal, Paytm
Flipkart Money has been launched on Android devices right now, where it can be topped up with Rs 10,000 at a time using credit card, debit card and netbanking. It is expected to be helpful for quick refunds and single click payments on the platform.
Balance is limited to Rs 10,000 only on the wallet and a total of Rs 25,000 can be added to it a month.
Money is part of Flipkart’s Wallet which also includes WS Retail Credit (WS Retail is the main seller on Flipkart), Gift Cards and other saved cards on the online retailer
Flipkart’s local rival Snapdeal also has wallet called Freecharge while Alibaba-backed PayTMoperates both a wallet and marketplace.
Flipkart had applied for license through its payment gateway business Payzippy in July 2013; however, it was unable to secure a license. The company shut down Payzippy in November last year.