‘iiz021 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI # ETBFSIEXCLUSIVE BANKING INSURANCE NBFC FINTECHY BFSIVIDEOS EDITOR'S - aa eet sCosU A ploy} rel xc Soe A eo ne i THE DIGITAL FUTURE MILLENNIALFINANCE FINTECH DIARY BFSITECH TALES GREENFINANCE —_ETBFSI EXPLAINS FSI MOVEMENT BLOGS MORE & CxO ecg ( _ 26" AUGUST 2021 Amazon Pay looks to subscribe to our become e-financial Newsletter powerhouse in India Your ryday Spurred by digitalisation growth during the pandemic, Ihave read Privacy Policy Amazon is stepping up its presence in segments such as and Terms & conditions insurance to credit. After pumping Rs 2,700 crore in 2019 newsletters and other communications on this email ID. and Rs 700 crore last year, Amazon has pumped in Rs 225 crore in its payment unit earlier this month. ETFS! Updated: March 30, 2021, 09:37 IST OOOGOQ O80 Amazon, which is a dominating player in India's e- commerce market, is looking to do a similar feat in payment services and expand its array of financial services. ‘The company which started offering wallet services a few years back now offers a host of services ranging itp ots. economitimes.inciatimes.com/newsintechiamazon-pay-looks-o-become-e-financialpowerhouse-n-ndia/81752120 a0‘iiz021 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI fri # ETBFSIEXCLUSIVE BANKING INSURANCE NBFC FINTECHY BFSIVIDEOS EDITOR'S payments. sy Py ar. — f . . . SF CONCLAVE It is now looking to step up play in segments such as kn tn BF Pb insurance to credit via Amazon Pay, according to 26 AUGUST 2021 reports. ee] ADVERTISEMENT © rostorcors ‘Taking India Forward. Together ee ee Join The Economic Times Cust ean INCLUSI@ON Financial Inclusion Summit “ee 415% -16" July 2024 2021 15 July 2021 @ 03:00 PM. A gathering of India’s top policy makers and business leaders se to brainstorm on the way ahead 7 GB, a Ge cin ds PR ii LL SUMMIT 2021 Register Now > ie a 2021 REGISTER NOW ‘The Offering While about 1 million Amazon sellers use Amazon Pay, over 4.5 million offline merchants offer it. Over About 40 million customers use the unified payments interface (UPI) on Amazon Pay. FINTECH Last year Amazon launched UPI for iOS users, the minimum KYC pre-paid instrument (PPI) wallet, scaled up adoption of Amazon Pay ICICI credit card, and launched new ticketing use cases including rights, buses and movies. ‘The company had said Amazon Pay continues to focus on "security and reliability" to ensure customers experience the ease and convenience of transacting hitps ots. economitimes.inciatimes.com/news,intechiamazon-pay-looks-o-become-e-financialpowerhouse-n-ndia/81752120 20rns20at di # | ETBFSIEXCLUSIVE BANKING INSURANCE NBFC "COVID-19 lockdown and social distancing norms impacted our ability to onboard new online merchants as well as perform in-person KYC for our wallet customers; albeit this situation has accelerated development of new remote technology-driven alternatives for these processes which we believe would both improve customer experience and reduce costs for the business," it had said in a regulatory filing last year. Covid-19 Push Along with other players, the digitalisation push during the pandemic has also lifted Amazon Pay as it saw scan-and-pay transactions growing 5 times since April 2020, while the number of such customers rising more than 2.5 times. ADVERTISEMENT Online Masterclass Masterclass on Digital Lending 23 Jul 2021 @ 10:00 AM 2HLo. Certificate of Participation will be provided on successful completion of the Register Now > Online Masterclass Private Equity Deals and Funding 29 Jul 2021 @ 09:30 AM. FPS Register Now > Register now to gain valuable insights hitps:ots. economictimes indiatimes. com/newsintechiamazon-pay-lookso-become-e-financial:powerhouse-n-ndia/81752120 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI FINTECH ¥ FinTech firms valuations rocket, Pine Labs value rises $1.5 bnin seven months BFSIVIDEOS EDITOR'S 2 days ag0 Paytm president Amit Nayyar, other high- profile execs quit ahead of IPO R 2 days ago Paytm is building real revenue while competitors are bleeding double the money for cashbacks: Bernstein 3 days ago Fintech startup Clearco raises $215 min in ‘SoftBank- led funding View More > EDITOR'S PICK 3in0‘iiz021 Ti # ETBFSIEXCLUSIVE BANKING INSURANCE _NBFC Amazon Pay said it has partnered with several banking, non-banking financial companies), and merchant partners to deliver these services. Ithas partnered Acko General Insurance to offer insurance for two-wheelers and four-wheelers. It had launched Covid health insurance to all its sellers in the country. It has launched Amazon Pay Later, a service that extends a virtual line of credit to eligible customers, for which it has partnered Capital Float and Karur Vysya Bank. It also offers co-branded credit card in partnership with ICICI Bank. Ithas invested in fintech firms Capital Float, ToneTag and BankBazaar to leverage its offering. Losses Amazon Pay saw its losses widen to Rs 1,868.5 crore in the financial year 2020 from Rs 1,160.8 crore in the fiscal ended March 2019. Amazon Pay's total revenue for fiscal 2020 grew over 64 per cent to Rs 1,370 crore over Rs 834.5 crore in fiscal 2019. Investments ‘The company, which competes with players like Paytm, Flipkart's PhonePe, and Google Pay, saw its parent pumping in over Rs 2,700 crore investment in the financial year 2020. Amazon Pay India had received Rs 2,705 crore in FY20 from Amazon Corporate Holdings Private Limited and FINTECH ¥ ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI BFSIVIDEOS EDITOR'S FinTech valuations rocket, Pine Labs value rises $1.5 bnin seven months SOR RBlasks banks to shift from scam-tainted LIBOR to other rate benchmarks 2 days ago LIC puts 15 bad loan accounts including DHEL, RCom on block ahead of IPO 2 days ago ‘Top banks eye overseas AT1bond sale as domestic investors turn wary 3 days ago How Piramal group can strike gold with DHEL acquisition hitps:ots. economictimes indiatimes. com/newsintechiamazon-pay-looks-o-become-e-financialpowerhouse-n-ndia/81752120 4n0risa2024 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI Al # ETBFSIEXCLUSIVE BANKING INSURANCE NBFC shares to these entities worth Rs 450 crore in June, Rs 900 crore in October, and Rs 1,355 crore in December 2019, the document said. It added that shares worth over Rs 700 crore were allotted to these firms in September 2020. Earlier this month Amazon has infused over Rs 225 crore into its payments unit in India. The fresh infusion is expected to help the company compete more aggressively against rivals like PhonePe, Google Pay and Paytm. Follow and connect with us on Twitter, Facebook, Linkedin Fintech Amazon paytm — insurance credit ‘Amazon Pay 0 Comments Sort by Newest This thread is closed Facebook Comments Plugin FINTECHY BFSIVIDEOS EDITOR'S BFSI VIDEOS ‘The surge in internet companies and e-commerce space has led to an overall surge in digital payments benefitting both... 28 days ago Don’t see major challenges in F¥22, except in first quarter, says Chief Economist, RBL Bank 28 days ago Mass affluent customers are seeking phygital experience: Sanjiv Bajaj, Bajaj Capital 28 days ago PayMiate eyes global expansion with $9 trillion opportunity in SEMEA region View More > hitpsfofs. economictimes inciatimes.com/newsifintechlamazon-pay-4ooks-o-become-c-financial-powerhouse-n-ndia/81752120 5110risa2024 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI USIVE BANKING _ INSURAI rocket, Pine Labs value rises $1. 5 bn in seven months Pine Labs, which raised funds at $2 billion in December 2020 raised fresh funds at $3.5 billion and more rounds are to follow. Fairfax has announced $1.8 billion gain on its investment in Digit Insurance that was set up in 2017. DEOS EDITOR'S ETBFSI Click Here to Read This Story Paytm president Amit Nayyar, other high-profile execs quit ahead of IPO Nayar was from the new crop of leaders Paytm had hired. Digbijay Mishra , Anjali Venugopalan & Ashwin Manikandan —ETtech Click Here to Read This Story Paytm is building real revenue while competitors are bleeding double the money for cashbacks: Bernstein Indias leading digital financial services platform Paytm is building revenue and also has been cutting down on its losses year after year. IANS Click Here to Read This Story hitpsfefs. economictimes inciatimes.com/newsifintechlamazon-pay-looks-o-become-c-fnancial-powerhouse-n-ndia/81752120 5110‘iiz021 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI Fintech startup Clearco raises $215 mln in SoftBank-led funding Clearco said this model has led it to fund eight times as many companies headed by female founders as traditional venture capital firms last year. About 13% of Clearco’s funding went to companies headed by Black and Hispanic founders versus 2.6% for traditional venture capital firms. Reuters Click Here to Read This Story Airtel Payments Bank rolls out ‘Pay to Contacts’ feature for UPI payments The feature ‘Pay to Contacts’ displays the valid UPI ID associated with the selected contact, irrespective of the UPI app used by the receiver which will eliminate the need to provide the UPI ID or bank account details to process the payments, and this will result in saving of time, Airtel Payments Bank said. ETTelecom Click Here to Read This Story With over 10,000 jobs, FinTech companies are on a hiring spree: Tushar Aggarwal “There are currently over 10,000 FinTech jobs in various startups. The market is witnessing massive hirings at top public and private sector lenders, as the itp ots. economictimes.nciatimes.com/newsintechiamazon-pay-looks-o-become-e-financialpowerhouse-n-ndia/81752120 70‘iiz021 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI f ETBFSIEXCLUSIVE BANKING INSURANCE NBFC FINTECHY BFSIVIDEOS EDITOR'S sara rusnar Aggarwal, FOUNder Gnd CEU, STaSNFIN, ETHRWorld Click Here to Read This Story Ex-WhatsApp executive to rejoin Paytm board Former global business head of WhatsApp, Neeraj Arora, is set to rejoin Paytm’s board ahead of the Noida-headquartered fintech company’s initial public offering. TNN Click Here to Read This Story Paytm rejigs board ahead of its $2.2 billion IPO The move comes ahead of its much-anticipated Initial Public Offering (IPO) Ashwin Manikandan — ETtech Click Here to Read This Story Top 10 lending FinTechs tapping the underserved markets The Covid pandemic jolted businesses and axed growth, But as it spurred digitisation, the pandemic also gave way to lending FinTechs the opportunity to expand their financial products and reach the underserved ETBFSI hitps:ots. economictimes indiatimes. com/newsintechiamazon-pay-looks-o-become-e-financial:powerhouse-n-ndia/81752120 ano‘iiz021 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI # ETBFSIEXCLUSIVE BANKING INSURANCE NBFC FINTECHY BFSIVIDEOS EDITOR'S Nium buys Wirecard’s India forex dealership co Leading remittance platform, Nium will be acquiring Wirecard’s India forex dealership. Mayur Shetty TNN Click Here to Read This Story INDUSTRY NEWS. 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All Rights Reserved. hitps:ots. economictimes indiatimes. com/newsintechiamazon-pay-lookso-become-e-financialpowerhouse-n-ndia/81752120 3norisa2024 ‘Amazon: Amazon Pay looks to become e-financial powerhouse in India, BFS! News, ET BFSI # ETBFSIEXCLUSIVE BANKING INSURANCE NBFC FINTECHY BFSIVIDEOS EDITOR'S BD OL com hitps fs. economictimes inciatimes.com/newsifintechlamazon-pay-/ooks-o-become-c-fnancial:powerhouse-n-ndia/81752120 ‘s0n10