Amazon Boosts Indian Payments Business With $72M Investment To Take On Google Pay, Walmart-Backed PhonePe: Report
Portfolio Pulse from Benzinga Neuro
Amazon has invested $72 million into its Indian payments business to compete with Google Pay and Walmart-backed PhonePe. This brings Amazon's total investment in the platform to $113.8 million this year. The move aims to strengthen Amazon's position in India's rapidly growing digital payments market.

June 27, 2024 | 10:19 am
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Amazon has invested $72 million into its Indian payments business, bringing its total investment to $113.8 million this year. This move aims to strengthen Amazon's position in India's growing digital payments market.
Amazon's significant investment in its Indian payments business indicates a strategic move to capture a larger share of the rapidly growing digital payments market in India. This is likely to positively impact Amazon's stock in the short term as it demonstrates the company's commitment to expanding its footprint in a high-growth market.
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