We set the criteria for a quantum walk to exhibit nontrivial dynamics when placed in an indefinite causal order and study two-period quantum walks when the evolution operator is arranged in a causally ordered sequence and in an indefinite causal order using quantum switch. When either forward or backward causal sequence is implemented, one observes a causal asymmetry in the dynamics, in the sense that the reduced dynamics of the coin state is more non-Markovian for one particular temporal order of operations than that of the other. When the dynamics is defined using evolution operators in a superposition of causal orders, the reduced dynamics of the coin space exhibit higher non-Markovian behavior than either of the definite causal orders. This effect can be interpreted as a Parrondo-like effect in non-Markovianity of the reduced state dynamics of the coin. We further generalize the qualitative description of our results pertaining to the dynamics when the walk has a higher number of periods.