Amazon and Flipkart Expand Financial Services in India

Amazon and Flipkart, two big online shopping companies, are starting to offer loans and buy-now-pay-later services in India.

Amazon bought a company called Axio to help with this and will offer loans to small businesses.

Flipkart, which is owned by Walmart, is waiting for approval from the Indian government to offer loans for things like TVs and phones.

Both companies think there's a big opportunity because many people in India are shopping online and need these kinds of financial services.

They also have a lot of information about their customers, which can help them offer better services.

However, they need to make sure they do a good job of running these new services.