Tech
Amazon, Flipkart take aim at India’s banks with new consumer loan offerings
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Amazon is preparing to offer loans to small businesses in India, while Walmart-owned Flipkart is looking at buy-now, pay-later (BNPL) products as the e-commerce giants take on the country’s banks with a push into financial products.
Amazon acquired Bengaluru-based non-bank lender Axio earlier this year. Currently focused on BNPL and personal loans, Axio will re-embark on offering credit for small businesses and start offering cash management solutions.
“We see tremendous headroom for expanding credit growth in India, particularly among digitally…
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