Amazon Invests Rs130 crore in Amazon Pay India

Amazon is pumping in more capital into its payment arm as it looks to expand its operations in India and compete with the likes of Paytm and Flipkart.
  • Rs130 crore have been invested in Amazon Pay India. This has been done to make digital payments the most trusted and convenient choice for their customers.
  • Amazon India is exploring ways to expand its reach and is getting into partnerships with banks, fintech companies and ecosystem partners.
  • This is done in the wake of the competition from Flipkart and Paytm. Amazon India has also received a go-ahead to set up an online grocery business in India.
Source: http://bit.ly/2uaRyUR

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