Share Poll

Poll link

500 px
350 px
250 px
Preview

widget preview:

Width - px Height - px

Close preview
! You are using a non-supported browser Your browser version is not optimised for Toluna, we recommend that you install the latest version Upgrade
Our Privacy Notice governs your membership of our Influencer Panel, which you can access here. Our website uses cookies. Like in the offline world, cookies make things better. To learn more about the cookies we use, check out our Cookies policy.

pdinesh7

  4 months ago

Exclusive: Amazon pumps Rs 700 Cr in Amazon Pay India
Closed

Amazon Pay, the payments arm of e-commerce major Amazon, has received Rs 700.1 crore from its parent entity Amazon Corporate Holdings, regulatory filings show.

The fresh tranche has come through a Singapore-based entity Amazon Corporate Holdings Private Ltd and Amazon.com. Incs Limited, Mauritius. Amazon Pay(India) has allotted 70.01 crore equity shares to the existing shareholders on a rights basis at Rs 10 per share to raise the total consideration.

The fresh infusion for Amazon Pay has come after a gap of nine months. In January, Amazon Pay had received Rs 1,355 crore from the holding company. Previously, it had secured Rs 450 crore in June 2019 and Rs 300 crore capital in January 2019 from its Singapore and Mauritius-based parent entities.

Since its inception in 2016, the total funding raised by Amazon Pay from its holding company now stands at Rs 5,055 crore.

Flipkart and Amazon are receiving funds from their holding entities ahead of the festive season. October and November are the two best business months for e-commerce platforms. The festive season also triggers a spike in digital payments as payments companies push discount and cashback on their usages on e-commerce transactions.

Amazon seller services, the online marketplace unit of Amazon, had recently received Rs 1,125 crore in internal funding from Amazon Corporate Holdings while Walmart also pumped in $560.45 million in Flipkart.

The internal funding comes at a time when the usages of digital modes of payments increased. People have been avoiding cash transactions as they could lead to the spread of the coronavirus.

Besides Google Pay, PhonePe, and Paytm, Amazon Pay has emerged as a preferred UPI mode of transaction with consumers. According to Entrackr’s sources, it had recorded 60 million transactions in June in which P2M’s volume was at around 17 million.

Extending the scope of its payments service, last month Amazon launched a new feature which allowed customers to make their credit card bill payments through Amazon Pay.
Reply

mrd28f1

  3 months ago
Yes
0 comments

mrd28f1

  4 months ago
Yes
0 comments

mrd28f1

  4 months ago
Yes
0 comments

FOCUS_STRAIGHT

  4 months ago
Nice Information..They have also partnered with IRCTC for making payments for railways and other payments.Customers will get cashback on making payments On IRCTC through Amazon Pay official from IRCTC said to media.
0 comments

J6560554q

  4 months ago
During this pandemic, Amazon business has bloomed more due to their good service.
0 comments

Copied to clipboard

You’re almost there

In order to create content on the community

Verify your Email / resend
No thanks, I’m just looking

OK
Cancel
We have disabled our Facebook login process. Please enter your Facebook email to receive a password creation link.
Please enter a valid Email
Cancel
We're working on it...
When you upload a picture, our site looks better.
Upload