Flipkart’s Financial Technology Agenda: InsurTech, Credit and Debit Cards, and Central Bank Digital Currencies

Time Stamp: March 7, 2023 2:55 AM
Source Node: 2518574

The world of financial technology is rapidly evolving, and Flipkart is at the forefront of this revolution. Flipkart, India’s leading e-commerce platform, has recently announced a major financial technology agenda that includes InsurTech, credit and debit cards, and central bank digital currencies. This agenda is part of Flipkart’s larger mission to make financial services more accessible and affordable to its customers.

InsurTech is an emerging technology that uses data and analytics to create personalized insurance products. Flipkart has partnered with Acko General Insurance to offer customers a range of insurance products, including motor and health insurance. This partnership will help customers access insurance products quickly and easily, without having to go through the traditional process of buying insurance.

Flipkart has also launched its own credit and debit cards, in partnership with Axis Bank. These cards will offer customers a range of benefits, including cashback, rewards points, and discounts on Flipkart purchases. The cards will also be linked to the Flipkart wallet, allowing customers to make payments directly from their wallet.

Finally, Flipkart is exploring the potential of central bank digital currencies (CBDCs). CBDCs are digital versions of traditional currencies, issued by central banks. Flipkart is working with the Reserve Bank of India to explore the potential of CBDCs and how they could be used to facilitate payments on the platform.

Overall, Flipkart’s financial technology agenda is an exciting development for the e-commerce platform. By offering customers access to innovative financial services such as InsurTech, credit and debit cards, and CBDCs, Flipkart is making it easier for customers to access financial services. This agenda is sure to benefit both Flipkart and its customers in the long run.