Amazon Invests Rs 230 Crore in its Indian Payment Platform
The e-commerce giant Amazon has freshly invested Rs 230 crore in ‘Amazon Pay' which is the Indian payment platform of Amazon. According to the Registrar of Companies (RoC), Amazon Pay India has allotted 23 crore equity shares worth Rs 230 crore to the existing shareholders on the right basis. The shareholders include Amazon Corporate Holdings and Amazon.com.incs.
The event has come months after the company invested Rs 195 crore in the same business in March. Since 2016, the total amount invested in the payments business till date is around Rs 1,000 crore.
With this, the company aims to make its operations stronger in the country and compete with the other players including PhonePe and Paytm.
Apart from this, Amazon is also aiming to increase the user base and traction on the platf...