According to TechCrunch, the investment adds to Amazon’s existing portfolio of investments in the payments landscape in India.
Future Coupons Limited is engaged in developing payment products and solutions such as corporate gift cards, loyalty cards, and reward cards primarily for corporate and institutional customers. Future Coupons owned around 7.3% stake in Future Retail as of early 2019, according to past regulatory filings, meaning that this deal would give Amazon a 3.58% stake in Future Retail.
Financial terms of the deal were not disclosed, but TechCrunch estimates that a 3.58% stake in the company would cost about USD 104 million.
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