Fri. Mar 29th, 2024
amazon india

After getting the approval to operate its digital wallet in the country, Amazon Pay is now looking to rip up its operations and marketshare. In the same regard, it has reached out to the government agencies to partner with them officially for collection of payments. The departments approached by Amazon include electricity boards and insurance companies. This will help the company in getting more and more people on board to create an alternative in the online payments. Currently, Paytm is the leading mobile payments solution in India, followed by Mobikwik, Freecharge and Flipkart backed Phonepe.

In the initial phase, Amazon pay has signed up hyperlocal startup HouseJoy, food delivery chain Faasos and Box8. Just last month, the company had got approval from Reserve Bank of India to operate its digital wallet in India.

Amazon is looking to capitalise on the base it has built over the years, operating as a leading eCommerce company in India. The users who pay using Amazon Pay, will be able to use the credit card information saved on their Amazon accounts. This will prevent them from entering their payment information again and again.

According to sources, Amazon is looking to partner with the departments having large user base and reoccurring payments. This will help the company to click larger number of transactions and reach out to larger number of people.

Amazon Pay had recently got an investment of ₹67 crores from its parent company to scale the payment business in India.

By Prithviraj Singh Chauhan

Part time journalist, full-time observer. Editor-in-Chief at The Indian Wire. I cover updates related to business and startups.