Now Reading: Super.money launches pay-in-three commerce platform splitStore
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Super.money launches pay-in-three commerce platform splitStore
Flipkart-backed fintech super.money has launched splitStore, a commerce-linked credit platform that lets customers pay a down payment and clear purchases in three interest-free, fee-free instalments. The product is aimed mainly at Gen…
The Story in Brief
Flipkart-backed fintech super.money has launched splitStore, a commerce-linked credit platform that lets customers pay a down payment and clear purchases in three interest-free, fee-free instalments. The product is aimed mainly at Gen Z and new-to-credit users. Its catalogue includes mobiles, fashion, electronics, appliances and home products, with brands such as Apple, Nike and Adidas. Flipkart’s delivery network supports fulfilment.
Chief executive Prakash Sikaria told PTI and Mint that commerce could contribute up to 20% of super.money’s revenue by December, while lending’s share falls to about 60%. The product uses closed-loop credit, tying each limit to a catalogue purchase rather than allowing unrestricted spending. Users must complete KYC. Mint reports that initial limits will be small, while RBI rules require regulated lending partners and clear disclosures for digital credit.
The Indian Opinion
The easy story is that zero-cost instalments make shopping safer for young consumers. The opposing lazy claim is that every pay-later product is predatory. Both miss the test: a purchase-tied limit and a down payment may contain risk, but they do not remove it. The useful measure will be repayment performance, complaints and credit losses as limits rise, not the promised 20% revenue share.
Sources (2): rediff.com, livemint.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
