Online marketplace giant Amazon India has infused Rs 2.3 billion in its digital wallet Pay, according to data sourced from business intelligence platform Paper.vc. According to documents, Amazon Pay (India) has allotted 230 million equity shares worth Rs 2.3 billion to its existing shareholders — Amazon Corporate Holdings and Amazon. com.inc — on right basis. The resolution was approved on June 28, it said. When contacted, an Amazon spokesperson said the company’s focus was 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 firms and ecosystem partners. We have earlier invested in creating new transformational services such as cash loading into the wallet at doorstep,” the spokesperson said. The spokesperson said the company planned to develop new services for customers and continue to drive adoption for Amazon Pay. “We are committed to the long-term vision of a less-cash India and continue to invest in experiences, which reduce customer friction, improve affordability and foster everyday habits, thereby building preference for digital payments,” the spokesperson said.
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