Ahead of Jeff Bezos visit, Amazon pumps in Rs 1,715 crore into India units

Ahead of Jeff Bezos’ visit, the world’s largest online retailer Amazon.com Inc has stepped up its investment in India. The Seattle-headquartered firm has pumped in a total investment of Rs 1,715 crore into its digital payments arm Amazon Pay (India) Pvt Ltd and Amazon Wholesale (India) Pvt Ltd.

The funding is expected to help Amazon tap India’s booming digital payments market, compete with Walmart-owned PhonePe, Alibaba-backed Paytm, and Google’s mobile payment service Google Pay. The funding would also help it to take on its rival Flipkart with whom the company is in a fierce battle for dominance in India’s online retail market.