₹590 crore investment on digital payments – Amazon
Online retail Giant Amazon has invested ₹590cr in Amazon Pay, Amazon Private Limited. Amazon planning to take its online digital payment device like Paytm, Google pay, PhonePe by implementing various new business strategies.
Amazon pay recently introduced a cardless EMI option for selected customers this Amazon pay EMI provides instant finance to customers who may not able to access credit card for purchasing higher value products highest limit to user can purchase in cardless EMI transaction is 60000 by splitting the Purchase into installments at low interest.
Funding for the Amazon pay ₹590 crore investment in digital Indian payment came from Singapore based Amazon corporate Holding Private Limited and Mauritius based npt amazon.com INCS Limited boarding to regulatory documents file by Amazon.