Leading marketplace Amazon plans to add Rs220 crore into its payment arm Amazon Pay. This investment is followed by Rs 590 crore infusion made by the ecommerce giant.
In the resent festive season Amazon India registered 75% digital transactions thanks to Amazon Pay,
through which the company offered large cashbacks and other easy payment options.
Amazon Pay’s options for mobile service recharges are also generating high traction. The payments arm saw a significant jump in revenue to Rs 394 crore in financial year 2017-18.