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Amazon is considering launching a separate app for its payments service, Amazon Pay, in India.
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The aim is to make the platform more popular and easier to use in the competitive digital payments market.
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Amazon Pay currently faces strong competition in India, ranking sixth on the Unified Payments Interface (UPI) with 72.4 million transactions in July.
Amazon is planning to launch a standalone app for its payments service, Amazon Pay, in India. The move aims to increase the platform’s popularity and usability in the country’s competitive digital payments market. Currently, Amazon Pay is integrated into Amazon’s main shopping app in India, allowing users to perform various financial transactions.
By separating Amazon Pay from the shopping app, the company hopes to give the service more attention and attract more users. Amazon has reportedly sought approval from the National Payments Corporation of India (NPCI) to proceed with the plan. However, the company may still change its mind or decide not to launch the separate app.
The digital payments market in India is highly competitive, with players like PhonePe and Google Pay leading the market. Amazon Pay faces significant challenges in gaining a larger share of the market. Despite this, the company is considering launching a separate app to boost its presence in the digital payments space.
