TLDR Tech / Fintech
Fintechs conquered payments in India. Now they're eyeing credit
Indian fintech companies, having dominated the UPI payments sector, are now focusing on digital credit, with industry leaders suggesting the credit market opportunity could be more than double that of payments. Companies such as PhonePe, Google Pay, BharatPe, and Amazon Pay are leveraging transaction data, e-commerce behavior, and other digital footprints to underwrite small consumer and MSME loans. They are targeting a market where only 15% of adults have access to formal credit, and most small businesses depend on informal financing.
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