FILE PHOTO: Smartphone with Amazon logo is seen in front of displayed Flipkart logo and Indian flag in this illustration taken, July 30, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
MUMBAI (Reuters) -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.
