Fri. Mar 29th, 2024
Amazon

Amazon India has reportedly roped in Mayank Jain, who was previously a senior executive at homegrown e-commerce platform Flipkart. At Flipkart, he was heading the financial services for the company and is credited with introducing “pay later” feature.

According to the report, Mayank had quit Flipkart in July last year. Before moving to Amazon, he was reportedly working with Bajaj Finance. His appointment with Amazon has been confirmed by the company.

In a statement released regarding Mayank Jain’s appointment, the company said, “Mayank Jain has joined Amazon India and will focus on strategic new initiatives”. However, the company refrained from revealing him designation in the company and his roles and responsibilities.

At Flipkart, he was responsible for financial services such as credit modelling, operations and business development across seller financing, consumer lending, and insurance. Thus, we are assuming that he will be the part of Amazon’s payments services.

Amazon India, which has been in India for more than four years, is now looking to broaden the scope of its digital payments service after receiving the prepaid payment instrument (PPI) licence from RBI. The company has already received the RBI approval to launch its own digital wallet service in India. Amazon’s payment gateway — Amazon Pay, is currently being used by several online businesses in India.

By Jeet