Thursday, April 22, 2021
  • About
  • Advertise
  • Careers
Scoftware Magazine
  • Home
  • Politics
  • Business
  • Culture
  • Opinion
  • Lifestyle
  • Entertainment
  • Login
No Result
View All Result
Scoftware Magazine
Home Business

Amazon Pay India’s loss widens to Rs 1,868.5 crore in financial year 2020 reports Tofler- Technology News, Firstpost

Jaleel M. by Jaleel M.
December 14, 2020
in Business
0
Amazon Pay India’s loss widens to Rs 1,868.5 crore in financial year 2020 reports Tofler- Technology News, Firstpost
0
SHARES
12
VIEWS
Share on FacebookShare on Twitter



TechSamvadDec 14, 2020 12:39:35 IST

Amazon Pay, the e-commerce giant’s payments unit in India saw its losses widen to Rs 1,868.5 crore in the financial year 2020 from Rs 1,160.8 crore in the fiscal ended March 2019, as per regulatory documents shared by market intelligence firm Tofler. The company, which competes with players like Paytm, Flipkart’s PhonePe and Google Pay, saw its parent pumping in over Rs 2,700 crore investment in the financial year 2020. The filing pointed out that Amazon Pay India has received Rs 2,705 crore in the financial year 2020 from Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited.

Amazon Pay India allotted shares to these entities worth Rs 450 crore in June, Rs 900 crore in October and Rs 1,355 crore in December 2019, the document said. It added that shares worth over Rs 700 crore were allotted to these firms in September.

The filing said millions of customers use Amazon Pay for a wide variety of payments including shopping on Amazon.in, recharges and bill payments, money transfers, and paying offline and online merchants. Amazon Pay has partnered with several banking, NBFCs (Non-Banking Financial Companies), fintech and merchant partners to deliver these services.

“COVID-19 lockdown and social distancing norms impacted our ability to onboard new offline merchants as well as perform in-person KYC for our wallet customers; albeit this situation has accelerated development of new remote technology-driven alternatives for these processes which we believe would both improve customer experience and reduce costs for the business,” the filing said.





Source link

Related posts

Sensex tumbles over 500 points in early trade; index majors HDFC Bank, HUL track losses-Business News , Firstpost”

Sensex tumbles over 500 points in early trade; index majors HDFC Bank, HUL track losses-Business News , Firstpost”

April 22, 2021
Net profit rises 14.9% to ₹9,246 crore; revenue at ₹43,705 crore-Business News , Firstpost”

Net profit rises 14.9% to ₹9,246 crore; revenue at ₹43,705 crore-Business News , Firstpost”

April 21, 2021
Previous Post

RTGS to become available round-the-clock from 12.30 am on Monday, says RBI governor Shaktikanta Das

Next Post

Twitter brings on board the team behind video calling and screen-sharing social media app Squad

Next Post
Twitter brings on board the team behind video calling and screen-sharing social media app Squad

Twitter brings on board the team behind video calling and screen-sharing social media app Squad

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Smart TVs priced under ₹20,000

Smart TVs priced under ₹20,000

9 months ago
Actively working on removing misinformation from platform: YouTube

Actively working on removing misinformation from platform: YouTube

9 months ago
Champions League Draw Comes With UEFA Hoping Coronavirus Doesn’t Ruin Plans For Lisbon Finale

Champions League Draw Comes With UEFA Hoping Coronavirus Doesn’t Ruin Plans For Lisbon Finale

10 months ago
Mahathir’s Pejuang submits application to register as new political party, SE Asia News & Top Stories

Mahathir’s Pejuang submits application to register as new political party, SE Asia News & Top Stories

8 months ago

FOLLOW US

  • 85 Followers
  • 29.5k Followers
  • 113k Subscribers

BROWSE BY CATEGORIES

  • Business
  • Culture
  • Entertainment
  • Lifestyle
  • Music
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Tech
  • Travel
  • World News

BROWSE BY TOPICS

2018 League Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan Istana Negara Market Stories National Exam Visit Bali

POPULAR NEWS

  • Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    Kris Jenner Spills Details About Her Sex Life With Corey Gamble: Watch

    0 shares
    Share 0 Tweet 0
  • Common Saints Release New Single “Idol Eyes”

    0 shares
    Share 0 Tweet 0
  • Sam Heughan & Graham McTavish Are Men in Kilts for Travel Show

    0 shares
    Share 0 Tweet 0
  • KRISTIN LASH & JAKOB GREY Team Up On “Sleeping With The Lights On”

    0 shares
    Share 0 Tweet 0
  • SEVENTEEN REVEALS PROMOTION SCHEDULE FOR ; SEMICOLON

    0 shares
    Share 0 Tweet 0
  • About
  • Advertise
  • Careers

© 2020 Scoftware.com

No Result
View All Result
  • Home
  • Politics
  • Business
  • Culture
  • National
  • Sports
  • Lifestyle
  • Travel
  • Opinion

© 2020 Scoftware.com

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Terms and Conditions - Privacy Policy