Amazon Pay | Pixr8 News

Amazon Pay Gets Huge Investment Ahead of Festive Season

5Oct By Gauri SinghNo Comments

BUSINESS

Amazon Pay Gets Huge Investment Ahead of Festive Season

The retail giant Amazon is continuing to invest considerable capital into its payments arm Amazon Pay, adding Rs 590 crore in the recent infusion. This move comes just before the festival sale of Amazon. With this, Amazon Pay is expected to offer large cashbacks to customers during the upcoming sales to attract more customers. Also, it may offer affordability products such as debit card EMI and cardless EMI to push sales of high-ticket products. “Our focus is to make digital payments the most trusted, convenient and rewarding choice for customers. We continue to explore ways to do this, in partnership with banks, processors, fintech companies and ecosystem partners,” an Amazon Pay spokesperson said. Along with this, the company also has plans to start selling insurance in India, as pe...

Amazon Pay Looking to Acquire Tapzo in a Cash & Stock Deal

Amazon’s online payments processing service Amazon Pay is looking forward to acquiring personal assistant platform Tapzo in a part-stock and part-cash deal with an aim to build on its payment offering and create multiple use cases for it. The deal has been valued at between $40-45 million. The stock component will give a cash-out to investors whereas Ankur Singla and Vishal Pal Chaudhary, co-founders of Tapzo will get some cash along with shares in Amazon. The sources have claimed that the deal was completed last week and Tapzo’s founders are likely to get on board Amazon Pay’s team in India. Founded in 2010, Tapzo is an aggregator platform that allows users to access over 35 apps including Amazon, Flipkart, Ola, Uber, and more from its interface. It provides a group of transactio...

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...