Amazon Boosts Indian Payments Business With $72M Investment To Take On Google Pay, Walmart-Backed PhonePe: Report

Quick Summary:

In a strategic move to fortify its presence in India’s thriving digital payments market, Amazon (NASDAQ: AMZN) has reportedly pumped ₹600 crore (approx $72 million) into its payments business in the country.

Amazon has increased its investment in the Indian payments platform to ₹950 crore ($113.8 million) so far this year, the report added.

What Happened: The American e-commerce behemoth has bolstered its Indian payments business with a hefty investment of ₹600 crore, ET reported.

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Category: Technology

Markets: United StatesIndia

Topics: US0231351067 News Benzinga AMZN Tech Markets Global

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Published On: 2024-06-27 @ 10:19:36 (1 weeks ago)

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