2 C
Innichen
March 1, 2024
Finance Technologies

Amazon Pay launches Android P2P payments in India

Android users in India now can make instant peer-to-peer (P2P) payments via Amazon Pay through the government-backed UPI platform, reports Jane Connolly.

“Our goal is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers”

The new service will also, TechCrunch reports, allow customers to make direct payments to local stores from their bank accounts or even to Amazon delivery associates on their doorsteps, via a UPI QR code.

Users will be able to transfer direct to other registered Amazon Pay UPI customers by selecting the contact on their phone. If the contact is not registered for Amazon Pay UPI, the customer can instead pay into the contact’s bank account or through another Bharat Interface for Money (BHIM).

Multi-factor authentication – involving the customer’s phone number, SIM details and UPI PIN – is used to ensure security.

As a launch incentive, Amazon – which is lagging behind P2P rivals Paytm, Google Pay and PhonePe in India – is offering its users up to INR 120 ($1.73) in cash back.

Vikas Bansal, director of Amazon Pay, says: “Our goal is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers. The customers trust their Amazon app and continue to expand payment use cases directly on the app.”

As part of its plans for India, Amazon appears to have the country’s 12 million small, independent stores – known as Kirana stores – in its sights. Amazon recently launched

a pilot programme in three Indian cities, aimed at managing the B2B inventory supply and management of such businesses. If the pilot is successful, the programme will be expanded across India.

Amazon Pay launches Android P2P payments in India
Amazon Pay launches Android P2P payments in India
Fintech
{$excerpt:n}

Related posts

PayTech Awards winners: where are they now? ANNA – Best Corporate Payments Initiative

Amme Jhonson

Banking for kids fintech GoHenry unveils biodegradable card

Amme Jhonson

US corporate card provider Brex applies for banking licence in Utah

Amme Jhonson

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Privacy & Policy