THE WHAT? Amazon is preparing to expand its lending footprint in India, with plans to offer small-business credit and additional financial products through Axio, the non-bank lender it acquired earlier this year.
THE DETAILS Axio—currently focused on BNPL and personal loans—will resume lending to small businesses and introduce cash-management tools aimed at improving merchant liquidity. The expansion follows the Reserve Bank of India’s recent approval allowing tech platforms to lend directly via wholly owned units. Amazon’s payments app remains one of the most widely used on India’s UPI network, giving the company access to both merchant and consumer behaviour data that can support credit scoring and loan distribution.
Amazon has also partnered with several local banks to offer fixed-deposit savings products via Amazon Pay, starting at 1,000 rupees (US$11).
THE WHY? Amazon is leveraging its payments ecosystem and data scale to enter India’s fast-growing digital credit market and compete more directly with established lenders.
Source: Inside Retail
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