最有看点的互联网金融门户

最有看点的互联网金融门户
全新的互联网金融模式国际资讯基于互联网平台的金融业务

沃尔玛准备在印度金融科技市场大施拳脚

全新的互联网金融模式国际资讯基于互联网平台的金融业务

沃尔玛准备在印度金融科技市场大施拳脚

沃尔玛5月9日宣布收购印度最大的电子商务公司Flipkart后,股价上涨了9.2%。在投资者报告中,沃尔玛称印度"是一个引人注目的增长型市场,具有长期潜力。"此前波士顿咨询公司曾表示,到2025年,印度将成为全球第三大消费市场。沃尔玛还称Flipkart"具有快速发展定位"。

8月8日印度竞争委员会在推特上宣布该交易已获批,这笔价值160亿美元的交易将提升沃尔玛在印度零售业的地位,同时也能使沃尔玛在印度快速发展的金融科技领域发挥作用。

沃尔玛的口号是"省钱,活得更好"。沃尔玛在美国多次尝试申请银行业务执照,以节省数十亿美元的卡片手续费。沃尔玛还有兴趣帮助未充分享受金融服务的购物者省钱。2014年沃尔玛与Green Dot合作,为客户提供活期存款账户。沃尔玛资金中心提供预付借记卡、信用卡、汇款和支票兑现服务。去年,沃尔玛与两家金融科技创业公司合作,帮助员工避免昂贵的发薪日贷款。

目前印度处于未充分享受金融服务状态,2017年只有41%的成年人持有活跃的银行账户。沃尔玛可以通过Flipkart及其手机钱包PhonePe在印度扮演类似于支付宝的角色。通过收购Flipkart,沃尔玛已经在快速增长的市场中占据一席之地。德勤认为,到2021年印度移动支付交易额规模将达到4600亿美元。

沃尔玛的秘密武器:Flipkart的手机钱包PhonePe

通过购买Flipkart,沃尔玛也将拥有PhonePe。PhonePe是印度第二大手机钱包,拥有1亿用户。PhonePe的年交易额从2017年7月的25亿美元增长到2018年5月的200亿美元。阿里巴巴公司旗下的Paytm是PhonePe的竞争对手,5月数据显示年度交易价值达到290亿美元。与支付宝一样,PhonePe也通过从与大型电子商务网站关联中获利。阿里巴巴的蚂蚁金服最新估值为1500亿美元。哪怕PhonePe达到其中一小部分,沃尔玛股票都能够从中受益。

类似于支付宝,PhonePe也在不断扩张。PhonePe正在向印度的药店、百货商店、餐馆和加油站提供支付解决方案。PhonePe去年签约了2.5万家线下商家,目前这一数字已经增长到30万家。公司希望印度签约商户能达到100万家。7月,PhonePe收购了针对小型企业提供销售点解决方案的公司Zopper Retail,后者目前为数百万家企业提供服务。印度媒体YourStory报道,"Zopper Retail的销售、库存、员工、忠诚度和会员管理的CRM能够让PhonePe商家提供的产品更加完备,帮助其获得更好的价值定位。"

6月,PhonePe与酒店应用程序Goibibo和印度优步Ola合作,用户可以通过PhonePe应用程序中预订酒店和出租车。

类似于Foursquare,PhonePe希望能够允许商家在应用上开设商店,并将用户与他们附近的商家联系起来。在这一点上,类似于Paytm。

对沃尔玛股票的影响

PhonePe将遵循蚂蚁金服的发展路线,沃尔玛股票也将从中受益。类似于蚂蚁金服,PhonePe希望提供贷款和保险等其他金融服务。持有客户的支付数据有助于PhonePe评估借款人的风险。这也是Square向小企业提供贷款的原因。

印度对金融服务的需求十分迫切。2017年印度小企业的信贷缺口为2300亿美元。印度政府在1月份表示,印度的寿险缺口为7.53万亿美元。对于PhonePe(和沃尔玛)来说,这是一个机会。PhonePe创始人Sameer Nigam在1月份表示,该公司将与银行和保险公司合作提供金融服务。为了让服务更加实惠,他们将"推出可以分期付款支付保费的产品。"

沃尔玛在一个快速发展的大型经济体中赢得了自己的强势地位。通过PhonePe,沃尔玛能够获得印度金融科技领域的大量股份。随着PhonePe和Flipkart在印度持续发展并赢得市场份额,沃尔玛股价也将一路攀升。

Walmart Inc stock is up 9.2% since it announced it was buying Flipkart, India’s biggest e-commerce company, on May 9. In an investor presentation, Walmart called India “a compelling growth market with long-term potential.”

Indeed, the Boston Consulting Group has said India could become the world’s third-largest consumer market by 2025. Walmart also described Flipkart as “positioned for significant growth.”

The $16-billion deal cleared an important hurdle on Aug. 8, when the Competition Commission of India announced on Twitter Inc  that the deal had been approved.

This deal will boost Walmart’s presence in Indian retail. However, it could also position Walmart to play a role in India’s fast-growing fintech sector. Walmart as a fintech stock? Does this make sense?

Well, after all, Walmart’s slogan is “save money, live better.”

Walmart has tried several times to obtain a banking license in the United States. Doing so would help the retailer save billions of dollars in card-processing fees.

Walmart also has an interest in helping under-banked shoppers save money. The company partnered with Green Dot in 2014 to offer its customers checking accounts. Walmart Money Centers offer prepaid debit cards, credit cards, money transfers and check cashing. Last year, Walmart partnered with two fintech startups to help employees avoid expensive payday loans.

Like China before Alibaba released Alipay, India is also under-banked, with just 41 percent of adults holding an active bank account in 2017. Walmart could play a similar role in India through Flipkart and its mobile wallet, PhonePe.

By buying Flipkart, Walmart has taken a position in a fast-growing market. Deloitte thinks that mobile payments in India will reach $460 billion in transaction value in 2021.

Walmart’s Secret Weapon: Flipkart’s PhonePe

By buying Flipkart, Walmart will also own PhonePe. PhonePe is the second-largest mobile wallet in India. It boasts 100 million users. PhonePe’s annual transaction value grew from $2.5 billion in July 2017 to $20 billion in May 2018. Alibaba-backed Paytm, PhonePe’s rival, claimed $29 billion in annual transaction value in May.

Like Alipay, PhonePe benefits from being linked to a large e-commerce site.

Alibaba’s Ant Financial was recently valued at $150 billion. WMT stock will benefit if PhonePe achieves even a fraction of this.

And like Alipay, PhonePe appears to be branching out. PhonePe is offering its payment solution to pharmacies, department stores, restaurants and gas stations in India. PhonePe says it signed up 25,000 offline merchants last year, and it now claims 300,000 merchants.

The company wants to reach one million merchants in India. In July, PhonePe bought Zopper Retail, a point-of-sale solution for small businesses. Zopper currently serves millions of businesses.

According to YourStory,

“Zopper Retail’s CRM for sales, inventory, workforce, loyalty and membership management will complete the offerings for PhonePe merchants, helping it add a better value proposition.”

In June, PhonePe partnered with the hotel app Goibibo and Ola, India’s Uber, to allow users to book hotels and hail rides within the PhonePe app.

Like Foursquare, PhonePe wants to allow shops to set up stores on the app and connect users with businesses near them. In doing so, it will be imitating Paytm.

Impact on WMT Stock

WMT stock will benefit as PhonePe follows Ant Financial’s playbook.

Like Ant Financial, PhonePe is looking at offering other financial services, such as loans and insurance. Having a customer’s payment data helps PhonePe assess a borrower’s risk. This is why Square offers loans to small businesses.

There is a big need for financial services in India. Small businesses in India faced a $230-billion credit gap in 2017. As for life insurance, the Indian government said in January that India had a $7.53-trillion protection gap.

This is an opportunity for PhonePe (and Walmart). PhonePe founder Sameer Nigam said in January that the company would partner with banks and insurers to offer financial services. To make this more affordable, they will “try and come up with products where the premiums can be paid in smaller satchet instalments.”

Walmart has bought itself a strong position in a large and fast-growing economy. Through PhonePe, Walmart could end up with a big stake in India’s fintech sector. As PhonePe and Flipkart continue to grow and win market share in India, this should boost the price of WMT stock.

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