Supermoney has teamed up with Kotak Mahindra Bank to launch a 3-in-1 Super Account, combining savings, fixed deposits, and a secured card powered by UPI-on-credit. The account allows users to make UPI payments backed by their fixed deposit, earn cashback on transactions, and access credit without income proof.
To open an account, users need to make a minimum fixed deposit of Rs 1,000, which earns interest while serving as collateral for credit. The product is designed for digitally savvy users who prefer cashback and credit flexibility within UPI’s zero-fee ecosystem.
“Our focus is to bring in users who actively engage with financial products. UPI is the entry point, but our goal is long-term engagement,” said Prakash Sikaria, Founder, Supermoney.
The launch follows Supermoney’s partnership with Juspay to enable one-click checkout for online merchants, already live with over 1,000 D2C brands. Under the Kotak tie-up, the company plans to issue 200,000 secured cards per month before expanding to more banks.
Backed by $50 million from Flipkart, Supermoney plans to raise additional capital as it scales. Sikaria said the company is maintaining low cash burn and targeting India’s top 10–30 million digital-first users instead of competing with mass-market players like Google Pay or PhonePe.
“We aim to build a profitable secured card franchise that benefits customers, banks, and partners alike,” Sikaria added.
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