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Amazon invests Rs 450 crore in India payments unit as it bids to counter domestic competition

Updated : June 23, 2019 06:35 PM IST

American retail giant Amazon has infused Rs 450 crore into its payments unit in India — Amazon Pay.
Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.com.incs Ltd.
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. 
Amazon invests Rs 450 crore in India payments unit as it bids to counter domestic competition

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