Amazon Pay gets ₹225cr from its parent
May 17, 2021
Amazon Pay has gotten a capital imbuement of ₹225 crore from its US parent through a Singapore unit, most recent regulatory filings sourced from business intelligence platform Tofler appeared.
The advanced installments arm of Amazon India had in March got another ₹225 crore from Amazon Corporate Holdings, Singapore alongside a token investment from Mauritius-based Amazon.com Inc. This takes the total fund infusion in Amazon Pay to ₹450 crore this year as the US-based e-posterior keeps on pushing its digital payments platform here.
Amazon Pay houses a digital wallet and is additionally extending its Unified Payments Interface (UPI)- based digital payments instrument among clients in India.
It offers quicker discounts and motivating forces to shoppers for using its wallet and UPI instrument both on the Amazon India site just as outsider vendors like food delivery platform Swiggy and hyperlocal delivery startup Dunzo.