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Payments General

Flipkart seeks NBFC license to venture into fintech

Friday 6 July 2018 | 01:21 PM CET

Flipkart has announced it is expanding on the fintech market, by planning to offer credit and insurance products to its customers and sellers

Several Indian publications reported that the Bangalore based company is right now in the middle of applying for its NBFC license. The credit option would be first made available to its Flipkart’s sellers and customers and with time, the company will expand its financial services offerings beyond its platform.

Even though the platform has tied with players like Bajaj Finance and several banks to offer EMI-based products, almost 60% of the company’s customers do not have access to credit. This is why the company feels has decided to enter in the fintech segment.

More: Link
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