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.