Amazon India receives RBI approval for digital wallet

Amazon India has got the approval from the Reserve Bank (RBI) to operate a prepaid instrument or digital wallet. Amazon Online Distribution Services (AODS), a subsidiary of Amazon Asia Pacific Resources, was awarded the license on March 22. The license is valid till the end of fiscal year 2022. The development comes at a time when the digital payments space is witnessing a high level of engagement by leading internet-based startups in the country.