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Amazon invests in its payments arm Amazon Pay to take on Google and Paytm

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Amazon, The online retailer Giant, has invested approximately ₹ 590 crores in Amazon Pay (India) the digital payments arm to take on Paytm, PhonePe(Flipkart’s Payment App) and Google Pay (Previously known as Tez).

The US-based  Online Retailer Giant is eyeing on India’s booming digital payments market and take on the other mobile payment service providers.

Amazon Pay recently unveiled the ‘bill payments facility’ that allows customers to pay the electricity bill, landline bills, broadband bills, gas bills, prepaid and postpaid bill payments, and other Digital facilities.

Customers can access these categories from the App’s dashboard or from The Amazon Website’s homepage. The Amazon service enables bill payments through most of the major billers across the country.

Last week Digital payments company Paytm also raised around $300 million from billionaire investor Warren Buffett’s Berkshire Hathaway Inc.

Digital Payment Market is booming in India and all the major players are gearing up for this challenge. Consumers have now many options available to make most of it and getting lots of lucerative discounts. to read more about similar stories stay tuned to igreenik.com

 

 

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