Amazon Pay to expand into India through government institutions

Monday 29 May 2017 00:18 CET | News

Amazon India is looking to ramp up its payments business in the Indian market.

The company plans to sign up government institutions such as electricity boards and insurance companies to create use cases for Amazon Pay outside its online marketplace.

The business expansion comes after the company got a prepaid instrument (PPI), or a wallet licence from banking regulator Reserve Bank of India (RBI) last month. Currently, it is in talks with state electricity boards and public insurance companies as well, to get them on-board for payment solutions. Future plans of expansion involve offline payments by working with outlets like Crocs and Cafe Coffee Day.

What`s more, Amazon Play wants to develop a full online payments service in the area, allowing users to pay with their saved debit or credit cards for products and services provided by third-party companies that Amazon works with.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Amazon Pay, Amazon, India, online payments, ewallets, online payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce