‘isiz021 ‘Amazon infuses 21,355 crore more into India payments venture mint Subscribe Signin HOME LaTEST TRENDING PREMIUM Home >Companies >News >Amazon infuses 21,355 crore more into India payments venture Amazon infuses 1,355 crore more into India payments venture OPEN APP The latest infusion takes the total funding in Amazon Pay India since its inception in 2016 to 84,355 crore. 41min read. Updated: 14 Jan 2020, 11:34 PM IST Selman SH. ‘The funding comes at a time when the online payments space in India has turned highly competitive ‘The fresh fund infusion takes the total funding in Amazon Pay India to €4,355 crore since its inception in 2016 hitps:twwizlverintcom 128risa2024 ‘Amazon infuses 21,355 crore more into India payments venture mint Subscribe Signin HOME LaTEST TRENDING PREMIUM BENGALURU : E-commerce giant Amazon has infused an additional 21,355 crore into its digital payments venture Amazon Pay India Pvt. Ltd, company filings showed. The infusion was made by the company’s Singapore and Mauritius registered parent entity, according to a filing with the registrar of companies (RoC) sourced from business information platform Tofler. This takes the total funding in Amazon Pay India to %4,355 crore since its inception in 2016. Previously in June 2019, Amazon Pay India had received %450 crore from its parent entity. The funding comes at a time when the online payments space has turned highly competitive with internet giants such as Google Pay and PayPal doubling down in India. Facing heat from global brands, domestic entities such as Paytm, PhonePe, and Mobikwik have already started exploring other avenues such as online insurance and mutual funds to grow their revenues. How swarm learning provides while protecting data sovereit = Hewlett Packard Enterprise hitps:twwizlverintcom 228‘isiz021 ‘Amazon infuses 21,355 crore more into India payments venture mint Subscribe Signin HOME LaTEST TRENDING PREMIUM The study also pointed out that India’s share of the worldwide transaction value of digital payments is also set to increase from 1.56% to 2.02% in the next four years. Amazon Pay launched in India in 2016 as a prepaid wallet service in a bid to increase cashless orders on its e-commerce marketplace. The payments arm later acquired a prepaid payment licence from RBI and also launched peer-to-peer payments in April 2019. It also added support for unified payment interface (UPI) through a tie-up with Axis Bank in February 2019. speNrape MINT PREMIUM See All Reitsnow within easy India's luxury car buyers How rising global Cairn asset seizure: How reach, but learn more are being made to do ‘commodity prices hurt ‘we came to this pass before youtakethe plunge something they aren't used Indian economy to hitps:twwizlvemintcom 3128‘isiz021 ‘Amazon infuses 21,355 crore more into India payments venture mint Subscribe Signin HOME LaTEST TRENDING PREMIUM GetAPP. Never miss a story! Stay connected and informed with Mint. Download our App Now!! 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