super.money tests pay-in-three credit product to deepen commerce push
Flipkart-backed super.money is piloting splitStore, a closed-loop pay-in-three product for small-ticket purchases on Flipkart. The fintech plans to extend it to its app, e-commerce marketplaces and D2C brands, targeting commerce as 20% of revenue by December.
What happened
Flipkart-backed super.money is testing splitStore, a closed-loop pay-in-three checkout credit product for small purchases. It plans to expand beyond Flipkart to
Key facts
- ₹1,000-2,000 initial credit limit
- ₹2,000-3,000 initial credit limit
- 3 instalments
- up to 20% of revenue by December
- 80-90% current revenue from credit products
- around 60% projected revenue from credit products by December
- 20% projected revenue each from payments and commerce by December
- 118 million Klarna active users globally
- $4.5 billion Klarna consumer-lending GMV in quarter ended December 2025
- 165% year-on-year Klarna GMV growth
- 59% year-on-year rise in Klarna credit-loss provisions
Why this matters
The commerce push makes super.money a more relevant embedded-finance partner for marketplaces and D2C brands seeking conversion uplift, payment data and controlled consumer credit.
What to watch
- Pilot approval rates, repeat usage, repayment rates and 30+/90+ day delinquency versus standard unsecured consumer credit.
- Evidence that splitStore raises checkout conversion, average order frequency or customer retention on Flipkart.
- Whether the product is funded through an NBFC/bank partner and the disclosed pricing, late-fee and customer-consent structure.
- Expansion from closed-loop Flipkart purchases to super.money app merchants, external marketplaces or D2C checkout integrations.
- Merchant subsidy levels and whether commerce reaches the stated 20% revenue target without outsized cashback expense.
- Regulatory guidance on digital lending, first-loss arrangements, credit reporting and BNPL disclosure requirements.
- Competitive responses from Flipkart ecosystem rivals, UPI/payment apps, banks and existing checkout-credit providers.
- Expand splitStore from Flipkart pilot cohorts to selected high-frequency categories such as beauty, fashion, grocery-adjacent and affordable electronics.
- Use repayment and shopping data to create risk tiers, with lower initial limits, autopay incentives and repeat-user limit increases.
- Bundle splitStore with super.money rewards, UPI payments and cashback to increase app engagement rather than treat credit as a standalone product.
- Sign D2C and marketplace merchant partnerships where merchants fund conversion-linked offers or discounts.
- Add tighter collections, fraud monitoring and credit-bureau reporting infrastructure before opening the product beyond the Flipkart ecosystem.