Amazon is considering shifting its payments offerings in India into a standalone app, three sources familiar with the matter told TechCrunch, as the e-commerce giant aims to boost usage of Amazon Pay in the country.
Some executives at Amazon believe Amazon Pay is not receiving adequate attention on the e-commerce app, one source said, adding that a separate app with a singular focus could help the payments platform gain wider recognition in the country.
Amazon Pay ranks sixth among apps on Unified Payments Interface, a payments network that is the most popular way Indians transact online. In July, Amazon Pay processed about 72.4 million transactions, accounting for about 0.5% of all transactions on the network, according to official data. In comparison, Walmart’s PhonePe processed 6.9 billion transactions, while Google Pay handled 5.3 billion.
Amazon Pay is currently housed within the company’s primary e-commerce app in India, and lets users transfer money to individuals and merchants, pay bills, purchase insurance and travel tickets, invest in mutual funds and digital gold, and buy travel tickets.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
