Amazon Pay Receives Capital Infusion Of Rs 700 Crore From Its Parent Amazon Inc.

• Amazon Pay India receives a capital infusion of Rs 700 crore from its parent Amazon Corporate Holdings and Amazon Inc.
• The platform will use this fresh capital to drive more consumption by providing incentives during the festive season.

E-commerce giant Digital payment system Amazon Pay India receives a capital infusion of Rs 700 crore ($95 million) from its Singapore-based parent Amazon Corporate Holdings and Amazon Inc. Mauritius.

Amazon Pay India Pvt. Ltd. will use this fresh capital to drive more consumption of its app by providing amazing incentives to the customers during the festive season.

According to the reports, Amazon Pay India has allotted 770.01 crore equity shares to the existing shareholders on a rights basis at Rs 10 per share to raise the total consideration.

In January 2019, Amazon Pay India had received Rs 300 crore funding, Following, In June 2019, The company received Rs 450 crore from its Singapore-based parent Amazon Corporate Holdings and Amazon Inc. Mauritius.

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Since the launch of Amazon Pay in India, The company had raised over Rs 5,000 crore from its holding companies.

Amazon Pay India may receive a capital infusion of $1.4 billion (Rs 10,000 crore) to take on other digital payment apps such as PayTm, Google Pay, and PhonePe.

Recently, Amazon India has added a new feature where customers can make their credit card bill payments through Amazon Pay.

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