In recent years, Flipkart, one of India’s leading e-commerce companies, has been exploring various financial technology strategies to expand its reach and customer base. Flipkart has been investing heavily in Insurtech, Credit and Debit Cards, and Central Bank Digital Currencies (CBDCs) to provide customers with more convenient and secure payment options.
Insurtech is a relatively new concept that involves the use of technology to make insurance more accessible and affordable. Flipkart has partnered with several insurance companies to offer customers a wide range of insurance products. This includes health, travel, and life insurance policies. Customers can purchase these policies directly from the Flipkart platform, making it easier for them to get the coverage they need.
Flipkart has also been investing in credit and debit cards. These cards allow customers to make purchases online without having to enter their bank details each time. This makes it easier and more secure for customers to shop online. Flipkart has partnered with several banks and payment gateways to offer customers a wide range of credit and debit cards.
Finally, Flipkart is exploring the potential of Central Bank Digital Currencies (CBDCs). CBDCs are digital versions of fiat currencies issued by central banks. They are designed to provide customers with a secure and convenient way to make payments online. Flipkart is working with the Reserve Bank of India (RBI) to explore the potential of CBDCs and how they can be used to facilitate online payments.
Overall, Flipkart’s financial technology strategy is helping to make online payments more secure and convenient for customers. By investing in Insurtech, Credit and Debit Cards, and Central Bank Digital Currencies, Flipkart is providing customers with more options when it comes to making payments online. This is helping to make e-commerce more accessible and secure for customers in India.
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- Source: Plato Data Intelligence: PlatoAiStream