Amazon will also increase investment in digital payment system

Read Time:1 Minute, 15 Second

Paytm , Phonepay and Google Pay will bump Amazon
Amazon Deal (India) has allocated 45 million shares for 450 million to Amazon Corporate Holdings and Amazon.com.in Ltd for the deal.

America’s legendary e-commerce company Amazon will also increase investment in India to beat Chinese investors in Paytm. By investing 450 million rupees in Amazon Pay, India wants to increase its presence in digital payments. Under this, Amazon can afford to lure people into paying cashback.

Table of Contents

Amazon will also increase investment in digital payment system in India, customers will get more cashback

Amazon will adopt cashback fund

Funding has taken place at a time when companies like paytm, Flipkart owned phones, Google Pay and other companies are making significant investments in the rapidly growing digital payment market in India. Many of these firms have offered significant cashbacks to entice customers to use their platforms to pay for utilities and shopping. Under this fund, Amazon can also encourage cashback through its new investment.

Allocated shares on 6th June

Amazon Deal (India) has allocated 450 million shares of each aggregate of 450 million to Amazon Corporate Holdings and Amazon.com.ins Ltd for the deal. These documents have been sent for the approval of Ministry of Corporate Affairs of India. The platform, which gives information about companies, Tofler has given the date of allocation to June 6, 2019.

Also read To improve the financial condition of BSNL ,the Department of Telecommunication has ordered to stop all types of expenses

Read on News in headlines Lat est News related to Business News and keep yourself up-to-date