Flipkart increases focus on Indian fintech market to take on Amazon, Paytm

From providing consumer credit, device insurance to seller financing, the category grew 40% in 2019

Walmart-owned e-commerce firm Flipkart has increased focus on the Indian fintech market and take on rivals such as Amazon and Alibaba-backed Paytm. Flipkart’s overall fintech category, which comprises consumer credit constructs, device insurance, and seller financing, grew 40 per cent in 2019.
 
As the company brings the next 200 million consumers online, it aims to significantly multiply the number of users with access to its fintech products and services. This includes tier-2 and tier-3 cities, where it is seeing a lot of traction.
 
“We are now able to provide credit to about 65 million customers out of the