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Amazon invests Rs 450 Crore in India Payment Unit Amazon Pay

USNMix Report: Amazon invested Rs 450 crore
in India payment unit

Retail giant Amazon has invested Rs 450 crore in Amazon Pay, in its payment unit in India. According to the documents submitted to the Ministry of Corporate Affairs, Amazon Pay (India) has received 45 million shares of Rs 10 worth from Amazon corporate holdings and  allocated to Amazon.com.incs.

According to documents obtained from Business Intelligence Platform Toufler, the date of allocation is June 6, 2019. Amazon Corporate Holdings has pumped 449.95 crores while the remaining amount is azazon.com.incs ltd is achieved from. The e-mail sent to Amazon India was not answered about this. 
Amazon invests Rs 450 Crore in Amazon Pay

This funding has been done at such times, while Paytm, Flipkart owned phones, Google Pay and other companies are making huge investments in the country's fastest growing digital payment market. Amazon is working on a plan to increase its retail business in India. For this, the company has introduced Amazon Flex. And through Amazon Flex, college students, food delivery executives, house wives and security guards can sign up and deliver goods to the company.

India is the 7th country in the world where Amazon has started this program. Payments will be made per hour and the expenditure on petrol will also be given. Amazon Flex has started in Delhi, Mumbai and Bengaluru and by the end of this year, it will be expanded in the top 7 cities in terms of business. Apart from India, Amazon Flex offers service to America, Spain, Japan, Singapore, Germany and England.

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