Amazon Pay now 5 million merchants strong, new app launched for businesses

Amazon Pay has onboarded over 5 million merchants using its digital payment solutions, Amazon announced on Saturday, April 17. The ecommerce giant revealed that 2.5 million merchants out of the total 5 million businesses operate retail and shopping outlets such as Kirana stores. 

Amazon Pay’s around 1.9 million merchants are operating food and beverage outlets such as restaurants and small eateries. Other businesses that the company has onboard include salons, medical care establishments, and more. 

Amazon Pay, the fintech arm of Amazon India, has also launched a new ‘Amazon Pay for Business’ app aimed at simplifying the payment needs of small and medium enterprises. 

The newly launched app is currently only available on Google Play Store. The app allows any merchant to quickly register its business and start accepting digital payments via a unified payments interface (UPI) by generating a unique quick response (QR) code on the app.

Customers can quickly pay merchants via UPI using the QR codes of the merchants. Mahendra Nerurkar, chief executive officer, Amazon Pay India, said, “The Amazon Pay For Business app will further catalyse adoption of digital payments and enable merchants to enter the digital ecosystem in minutes. We have built and scaled our digital payment acceptance for SMBs using UPI that is inarguably one of the world’s biggest digital payments platform, and look forward to creating more products that transform the way India pays.” 

Amazon has been betting big on the Indian market, despite severe backlashes from several trade organisations that have alleged that the ecommerce giant prefers a handful of sellers over lakhs of others selling on the platform. 

Just a few days back, Amazon had launched a massive $250 million fund to empower small and medium business across the country. Amazon said that the company is looking to bring 1 million offline retailers and neighbourhood stores by 2025 through its ‘Local Shops’ programme. 

 

Live TV

#mute

Source link