Amazon infuses ₹225 crore into payments unit Amazon Pay in India
The Hindu
Amazon has infused over ₹225 crore into its payments unit in India, Amazon Pay, according to regulatory documents. The fresh infusion is expected to help the company compete more aggressively against rivals like PhonePe, Google Pay and Paytm.
The board has approved “allotment of 22,50,00000 equity shares... aggregating to ₹225 crore to the existing shareholder on rights basis”, regulatory documents sourced by business intelligence platform Tofler showed.
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