India, Feb. 25 -- More than a decade after entering India as an ecommerce marketplace, Amazon is steadily stitching together a full-stack fintech play through Amazon Pay, spanning UPI, credit, BNPL, insurance and now fixed deposits. However, the road has been both long and delayed.

Seattle-headquartered ecommerce giant Amazon entered India in June 2013 with ecommerce. Today, it offers almost everything under the sun. What's more audacious is its bid to dominate India's fintech ecosystem with a flurry of offerings, including UPI, credit cards, buy-now-pay-later (BNPL) services and even fixed deposits (FDs).

A quick recap: The ecommerce major launched Amazon Pay India in 2016 to facilitate faster payments on its platform and reduce relian...