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Amazon top-ups with INR 450 crore investment in Amazon Pay

Amazon has now infused around INR 450 crore in its payment unit – Payment Pay, which makes the total investment to more than INR 1000 crore in the first half of 2019.

The latest capital infusion was approved earlier this month where the Amazon Singapore has invested around INR 449 crore while the other came from Amazon Mauritius as per the report which has been revealed. In total, Amazon has now invested INR 3221 crore in its payment entity since its launch in the year 2016.

Amazon is also looking to expand its payment business outside the Amazon marketplace by on-boarding major merchants like the movie ticketing player BookMyShow, online travel agent ClearTrip, and food delivery App platform Swiggy, among others. For the Amazon pay, which is also much more focusing on UPI adoption, it is looking to expand presence in the offline channel by getting into new merchants to accept the payment with the help of an Amazon Pay.

Source: Amazon



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