E-commerce major Amazon has pumped in Rs 2.3 billion in its Indian payments arm, Amazon Pay, as it looks to strengthen its operations in the country and compete head-on with the likes of Flipkart's PhonePe and Alibaba-backed Paytm. According to documents filed with the Registrar of Companies (RoC), Amazon Pay (India) has allotted 2.3 billion equity shares worth Rs 2.3 billion to existing shareholders -- Amazon Corporate Holdings and Amazon.com.incs -- on right basis. The resolution was approved on June 28, 2018, it added. When contacted, an Amazon spokesperson said the company's focus is 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 companies and ecosystem partners. We have earlier invested in creating new transformational services like cash loading into the wallet at doorstep," the spokesperson said. The spokesperson added that the company plans to further develop new services for customers and continue to drive adoption for Amazon Pay.
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