Welcome you to the Fifty fifth edition of DevMantra Times for the month of October 2025. This edition of our newsletter, where we bring you the latest developments shaping India’s dynamic business and innovation landscape. Amazon has finalized its acquisition of Indian non-bank lender Axio, securing a direct lending license and enabling it to offer credit products and develop innovative financial solutions for customers and small businesses. Meanwhile, GST 2.0 and Navratri e-commerce sales drove a record surge in digital payments, with transactions reaching ₹11.31 lakh crore, led by RTGS transfers for high-value items.
Industry & Economic Updates
Amazon completes Axio acquisition, secures access to direct lending business in India EDITORIAL NOTE:
Amazon has finalized its acquisition of Axio, an Indian non-bank lender, securing a direct lending license in India. This acquisition marks a significant step in Amazon’s expansion into the financial services sector in India, enabling the company to offer credit products directly on its platform, including checkout loans, and to develop innovative credit solutions tailored for customers and small businesses. Under this arrangement, Axio will continue to operate as a separate entity while leveraging Amazon’s technology and ecosystem, allowing for enhanced customer experience and broader financial inclusion. The move underscores Amazon’s commitment to strengthening its fintech presence in India and diversifying its service offerings beyond e-commerce.
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