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Amazon Pay launches P2P Payments through UPI in India

Amazon

29 April 2019, India:

Amazon Pay today announced the launch of person-to-person (P2P) payments for Android users. Amazon customers can now make instant bank-to-bank transfers using UPI platform on the Amazon app.

With this launch, the customers can now send or request money instantly directly from the Amazon Mshop app.

The platform is built on the Govt. of India backed UPI platform.

Customers can use this functionality to settle bills/expenses with friends, lend/return money to family, pay rents, pay for services like house-help, newspaper bills, milk subscription and more.

Customers can also make payments from their bank account to local stores nearby or to Amazon delivery associate at doorstep by scanning UPI QR codes using the Amazon app.

Vikas Bansal, Director, Amazon Pay said, “Our goal is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers. The customers trust their Amazon app, and we continue to expand payment use cases directly on the app.”

Vikas Bansal, added, “With this launch, we have the largest selection of shopping and payment use cases on the Amazon Android app which provides added convenience and control to our customers.”

Customers can send or receive P2P payments by simply selecting a contact from their phone contact book or entering UPI ID or Bank Account of the recipient.

The customers can initiate payments by simply tapping on the contact. Amazon auto-detects if the contact is a registered Amazon Pay UPI customer and enables instant bank to bank transfer.

If the contact is not registered for Amazon Pay UPI, the customer has the option to pay using any another BHIM UPI ID or contact’s bank account.

After selecting contact, the customer inputs the amount and enters UPI PIN to confirm payment. All P2P payments are secured through multi factor authentication involving customer’s phone, SIM details, and UPI PIN.

The money is transferred instantly and both customer and receiver are notified through SMS alerts and in-app notifications.

(Source – Amazon)

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