Walmart-owned e-commerce giant Flipkart has taken a significant step into the fintech space by obtaining a non-banking finance company (NBFC) licence from the Reserve Bank of India (RBI), as per Economic Times report.
This licence empowers Flipkart to directly offer loans to its customers and sellers on its platform, marking a move away from relying solely on third-party lending partners.
With the NBFC licence in hand, Flipkart can now extend credit from its own balance sheet. This shift is expected to enhance the company’s profitability by reducing dependency on external lenders and allowing greater control over its credit offerings.
While Flipkart is yet to officially launch its lending services from its own books, internal approvals are underway, and the company is gearing up to begin soon.
This development comes on the heels of Flipkart’s recent entry into UPI payments, signalling its broader ambitions in financial services. In May 2025, Flipkart UPI processed 3.47 million transactions, settling nearly ₹195 crore. The NBFC licence complements this by enabling Flipkart to deepen its financial services offerings.
Although Flipkart has previously partnered with Axis Bank for credit card products and collaborated with other lenders for consumer loans and buy-now-pay-later (BNPL) options, the NBFC licence allows it to internalize a portion of its loan portfolio. This move can lead to more flexible and competitive financing solutions for its users.
Flipkart’s NBFC licence comes at a time when competition in e-commerce fintech is heating up. Amazon, Flipkart’s chief rival, is in the process of acquiring Axio, a lending startup, to bolster its Amazon Pay financial services. Meanwhile, Amazon is also backing Bengaluru-based Super.Money, which offers UPI payments, digital loans, and credit cards.
The NBFC licence aligns with Flipkart’s larger strategic plans, including its proposed listing on Indian stock exchanges. Earlier reports indicated the company’s intention to shift its parent entity from Singapore to India, signaling a more India-centric growth approach.
In 2024, Flipkart was valued at $37 billion after raising $1 billion from Walmart, its parent company. The foray into fintech through direct lending could enhance its growth trajectory and investor appeal as it prepares for a public listing.
Read More: Flipkart VP Ashish Vijayvergiya to Launch New Venture Within Company.
Flipkart’s acquisition of the NBFC licence is a major milestone in its evolution from a pure-play e-commerce platform to a comprehensive financial services provider. By lending directly, Flipkart can offer seamless credit options, improve user engagement, and strengthen its foothold in the competitive Indian fintech ecosystem.
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Published on: Jun 6, 2025, 10:26 AM IST
Neha Dubey
Neha Dubey is a Content Analyst with 3 years of experience in financial journalism, having written for a leading newswire agency and multiple newspapers. At Angel One, she creates daily content on finance and the economy. Neha holds a degree in Economics and a Master’s in Journalism.
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