Amazon top-ups payments business with Rs 450 crore infusion

BENGALURU: Amazon has infused Rs 450 crore in its payments unit — Amazon Pay (India) taking the total investment to over Rs 1,000 crore in the first half of 2019. While Amazon continues to focus on its wallet — Amazon Pay — the e-tailer recently enabled peer-to-peer payments via Unified Payments Interface (UPI).
The latest capital infusion was approved earlier this month where Amazon Singapore put Rs 449 crore while the rest came from Amazon Mauritius, as per regulatory documents sourced from Tofler — a business intelligence platform. In total, Amazon has now invested Rs 3,221 crore in its payments entity since its launch in 2016.
Amazon is also expanding its payments business outside the Amazon’s marketplace by on-boarding major merchants like food delivery platform Swiggy, movie ticketing player BookMyShow and online travel agent Cleartrip among others.