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In A First, Flipkart Secures Approval For Direct Lending In India: Report
Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, according to documents reviewed by Reuters and a source.
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Xiaomi Plans to Boost Smartphone Sale in India as Samsung Struggles
China's Xiaomi will focus on boosting its India sales from retail outlets after years of big bets on e-commerce, its India president said, as the company seeks to revive smartphone sales after falling behind South Korea's Samsung. 44 percent of India's smartphones sales are now online.
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Flipkart to Distribute Axis Bank Personal Loans of Up to Rs. 5 Lakh Amid RBI Concerns on Unsecured Lending
Walmart-owned Flipkart on Friday announced that it will be distributing Axis Bank's personal loans on the e-commerce platform. The platform, which has 450 million customers, will be distributing loans of up to Rs 5 lakh which can be repaid in up to three years, it said in a statement.
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Retailers Invited to Join ONDC by Union Minister Piyush Goyal to Reduce Dominance of Big Tech Firms
Union Minister Piyush Goyal invited retailers to join Open Network for Digital Commerce (ONDC), the government-promoted open platform for e-commerce retail services. The project is aimed at creating equal opportunities for all players and reducing the dominance of big tech firms in the sector.
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PhonePe Announces Shift of Domicile From Singapore to India
PhonePe, a part of the Walmart-controlled Flipkart group, announced that it has completed the process of moving its domicile from Singapore to India. The development comes ahead of its plans to launch an initial public offering (IPO) for expanding its financial services portfolio and deepening its core United Payments Interface (UPI)-based payments...
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ONDC to Be Open to Public Soon to Counter Amazon, Walmart's Dominance: ONDC Exec
The Open Network for Digital Commerce (ONDC) — India’s e-commerce network to end the dominance of US companies Amazon and Walmart — will be soon open to the public, said an official, as per a report. The pilot phase for India’s domestic digital commerce initiative began in April. ONDC will provide platform and space to small merchants and r...
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Walmart's PhonePe Planning to Move Its Headquarters From Singapore to India
Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development. When contacted, a PhonePe spokesperson confirmed the development. "We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said.
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India’s E-Commerce Initiative ONDC Provides Alternative to Global Giants Like Amazon, Walmart
Indian government launched its Open Network For Digital Commerce (ONDC) in April. The platform acts as a prospective alternative to dominant global giants Amazon and Walmart in its fast-growing e-commerce market.
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Zomato, Blinkit Said to Have Reached Merger Agreement in an All-Stock Deal
Zomato has reportedly reached an all-stock merger with Blinkit (formerly Grofers) that values the instant-delivery service between (roughly Rs. 5,350 crore) and $750 million (roughly Rs. 5,732 crore).
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Flipkart Plans Foray into Healthcare With Flipkart Health+, to Acquire Majority Stake in Sastasundar
Flipkart is planning to enter the online healthcare market with the launch of Flipkart +. The Walmart-owned company announced on Friday that it will be acquiring a majority stake in SastaSundar.com that offers digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies.
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Amazon, Tata Said to Have Opposed Government’s Tougher E-Commerce Rules
Amazon and Tata Group said to have warned government officials on Saturday that plans for tougher rules for online retailers would have a major impact on their business models. The government's tough new e-commerce rules announced on June 21 aimed at strengthening protection for consumers caused concern among the country's online retailers.
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US E-Commerce Giants Are ‘Arrogant’, Flouting Our Laws: Piyush Goyal
Indian Commerce Minister Piyush Goyal has ratcheted up the heat on US.ecommerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
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Amazon, Flipkart Pleas to Quash Antitrust Case Rejected by Karnataka High Court
Amazon and Walmart-owned Flipkart's please to quash an antitrust investigation against the e-commerce giants was rejected by the Karnataka High Court on Friday. The Competition Commission of India (CCI) launched its investigation last year after a trader group's complaint accused the firms of promoting some "preferred sellers" and hurting small bus...
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Flipkart Said to Aim for IPO in Fourth Quarter of 2021
Flipkart, the e-commerce giant controlled by Walmart, is making progress toward an IPO as soon as the fourth quarter of this year, according to people familiar with the matter.
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US Lobby Group Urges India Not to Tighten Foreign Investment Rules for E-Commerce
A US lobby group that represents firms including Amazon and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again.
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In A First, Flipkart Secures Approval For Direct Lending In India: Report
Walmart's Flipkart has secured a lending licence from the Indian central bank and banking regulator, enabling it to offer loans directly to customers and sellers on its platform, according to documents reviewed by Reuters and a source.
-
Xiaomi Plans to Boost Smartphone Sale in India as Samsung Struggles
China's Xiaomi will focus on boosting its India sales from retail outlets after years of big bets on e-commerce, its India president said, as the company seeks to revive smartphone sales after falling behind South Korea's Samsung. 44 percent of India's smartphones sales are now online.
-
Flipkart to Distribute Axis Bank Personal Loans of Up to Rs. 5 Lakh Amid RBI Concerns on Unsecured Lending
Walmart-owned Flipkart on Friday announced that it will be distributing Axis Bank's personal loans on the e-commerce platform. The platform, which has 450 million customers, will be distributing loans of up to Rs 5 lakh which can be repaid in up to three years, it said in a statement.
-
Retailers Invited to Join ONDC by Union Minister Piyush Goyal to Reduce Dominance of Big Tech Firms
Union Minister Piyush Goyal invited retailers to join Open Network for Digital Commerce (ONDC), the government-promoted open platform for e-commerce retail services. The project is aimed at creating equal opportunities for all players and reducing the dominance of big tech firms in the sector.
-
PhonePe Announces Shift of Domicile From Singapore to India
PhonePe, a part of the Walmart-controlled Flipkart group, announced that it has completed the process of moving its domicile from Singapore to India. The development comes ahead of its plans to launch an initial public offering (IPO) for expanding its financial services portfolio and deepening its core United Payments Interface (UPI)-based payments...
-
ONDC to Be Open to Public Soon to Counter Amazon, Walmart's Dominance: ONDC Exec
The Open Network for Digital Commerce (ONDC) — India’s e-commerce network to end the dominance of US companies Amazon and Walmart — will be soon open to the public, said an official, as per a report. The pilot phase for India’s domestic digital commerce initiative began in April. ONDC will provide platform and space to small merchants and r...
-
Walmart's PhonePe Planning to Move Its Headquarters From Singapore to India
Walmart group digital payments firm PhonePe is planning to shift its headquarters from Singapore to India, according to a source privy to the development. When contacted, a PhonePe spokesperson confirmed the development. "We are in the process of moving our registered entity from Singapore to India," the PhonePe spokesperson said.
-
India’s E-Commerce Initiative ONDC Provides Alternative to Global Giants Like Amazon, Walmart
Indian government launched its Open Network For Digital Commerce (ONDC) in April. The platform acts as a prospective alternative to dominant global giants Amazon and Walmart in its fast-growing e-commerce market.
-
Zomato, Blinkit Said to Have Reached Merger Agreement in an All-Stock Deal
Zomato has reportedly reached an all-stock merger with Blinkit (formerly Grofers) that values the instant-delivery service between (roughly Rs. 5,350 crore) and $750 million (roughly Rs. 5,732 crore).
-
Flipkart Plans Foray into Healthcare With Flipkart Health+, to Acquire Majority Stake in Sastasundar
Flipkart is planning to enter the online healthcare market with the launch of Flipkart +. The Walmart-owned company announced on Friday that it will be acquiring a majority stake in SastaSundar.com that offers digital healthcare and pharmacy platform supported by a network of more than 490 pharmacies.
-
Amazon, Tata Said to Have Opposed Government’s Tougher E-Commerce Rules
Amazon and Tata Group said to have warned government officials on Saturday that plans for tougher rules for online retailers would have a major impact on their business models. The government's tough new e-commerce rules announced on June 21 aimed at strengthening protection for consumers caused concern among the country's online retailers.
-
US E-Commerce Giants Are ‘Arrogant’, Flouting Our Laws: Piyush Goyal
Indian Commerce Minister Piyush Goyal has ratcheted up the heat on US.ecommerce giants like Amazon and Walmart, accusing them of arrogance and of flouting local laws by indulging in predatory pricing practices.
-
Amazon, Flipkart Pleas to Quash Antitrust Case Rejected by Karnataka High Court
Amazon and Walmart-owned Flipkart's please to quash an antitrust investigation against the e-commerce giants was rejected by the Karnataka High Court on Friday. The Competition Commission of India (CCI) launched its investigation last year after a trader group's complaint accused the firms of promoting some "preferred sellers" and hurting small bus...
-
Flipkart Said to Aim for IPO in Fourth Quarter of 2021
Flipkart, the e-commerce giant controlled by Walmart, is making progress toward an IPO as soon as the fourth quarter of this year, according to people familiar with the matter.
-
US Lobby Group Urges India Not to Tighten Foreign Investment Rules for E-Commerce
A US lobby group that represents firms including Amazon and Walmart has urged India not to tighten foreign investment rules for e-commerce companies again.
