Amazon Invests Rs 450 Crore In India Payments Unit
Amazon Pay (India) Has Allotted 45 Crore Shares Of Rs 10 Each.
Amazon has invested Rs 450 crore into its payments unit (Amazon pay) in India. Amazon Pay (India) has allotted 45 crore shares of Rs 10 each.
Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.com.incs Ltd, documents filed with Corporate Affairs Ministry showed.
The documents, sourced by business intelligence platform Tofler, said the date of allotment was June 6, 2019.
Read more:- Amazon Opens Telangana’s Largest Delivery Centre In Hyderabad.
Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.com.incs Ltd. E-mails sent to Amazon India did not elicit a response.
The funding comes at a time when companies like Paytm, Flipkart-owned PhonePe, Google Pay, and others are making significant investments to tap into the booming digital payments market in India.
Many of these firms have been offering significant cash backs to woo customers to use their platforms to make payments for utilities and shopping.
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