Amazon Pay is changing tack. It is also clocking the numbers
Like everything Amazon does, it hopes to use payments as the hook to draw more users into its mainstay e-commerce business
Amazon is taking a stab at payments again in India, and this time, it is investing heavily
The company is using dogfooding, a Silicon Valley practice, where a product is first tested internally
Now, it is opening up to external merchants; the company says that this will help them get new e-commerce customers
But it isn’t focusing on getting new financing and credit products for customers
First, there was Prime. And now, Amazon Pay.
Amazon launched pay in India in April 2017. A payment option that lets users store their card information, it also doubles up as a wallet. One year in, Amazon is doubling down on it. Just like other wallet players, it has been offering heavy cash backs. Amazon invested Rs 195 crore ($29.31 million) in Pay this March and Rs 457 crore ($68.69 million) last year. That’s a lot of money. More when…
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Amazon launched pay in India in April 2017. A payment option that lets users store their card information, it also doubles up as a wallet. One year in, Amazon is doubling down on it. Just like other wallet players, it has been offering heavy cash backs. Amazon invested Rs 195 crore ($29.31 million) in Pay this March and Rs 457 crore ($68.69 million) last year. That’s a lot of money. More…
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