According to documents disclosed by the Indian business Registry, Amazon has invested 2.3 billion rupees in a new round of financing to its Indian payment subsidiary, Amazon Pay.
It is noteworthy that, in the last year, the pay, headquartered in Seattle, has invested a total of more than 5.85 billion rupees in its India-paid subsidiary, Amazon.
In fact, Amazon’s investment in Amazon pay is aimed at fighting competitors in the industry, including Alibaba Alipay, Paytm and PayPal, and they intend to provide digital wallet services to online merchants.
In recent years the global payment industry has been developing rapidly, and Amazon’s increased investment in its payment business is also in line with this trend. To be aware, Alibaba and SoftBank are increasing their investment in the mobile payment market, and have smashed billions of of dollars to build a local mobile wallet payment system.
About two years ago, Amazon officially set up a payment subsidiary, Amazon Pay, and announced the launch of support for third-party payment operations, allowing users to directly pay for movie tickets via Amazon Pay, and to book tours and online orders called takeout services.
Amazon pay has already reached a partnership agreement with 25 of India’s branded online stores and is actively expanding its online payment services.
Currently, in addition to India, Amazon pay payment business covers the countries of the United States, Britain, Japan, Germany, France, Italy and Spain.