Google Play Store: Indian fintech lenders get lawn from China as Google launches app cleanup

Fintech players further claimed that nearly 40-45% of the new applications they received in the last two months came from customers who had previously traded with Chinese-backed lenders.

Synopsis

Most domestic fintech lenders spoken to by ET said their business has risen 20-40% month-on-month since the crackdown began in December. Recently, Google has unplugged over 500 instant credit apps that have roots in China and do not comply with central bank standards.

With Google removing nearly 500 Chinese-backed fintech apps from the Play Store, small homegrown lenders have seen a significant increase in loan payments. Most domestic fintech lenders spoken by ET said their business has increased by 20-40% month-on-month since the crackdown began in December. 45% came from customers who have previously traded

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