Tech Desk
Aug 20, 2024
Amazon is considering launching Amazon Pay as a separate app for its payment service in India to boost usage of the platform in the country.
Currently, Amazon Pay is a part of Amazon’s main shopping app in India, allowing users to send money, pay bills, get insurance, book travel and tours, and invest in funds.
It’s been a while since Amazon has been planning to separate Amazon Pay from its shopping app, but within the next few months it's likely to implement this idea.
Read more: Amazon sticks to generative AI on Alexa's tenth anniversary
The e-commerce giant aims to make Amazon Pay more popular and easier to use in the competitive digital payments market and to compete with other payment apps including PhonePe, and GPay.
Amazon has reportedly reached out to the National Payments Corporation of India (NPCI) for approval to make this change.
According to Amazon’s management, Amazon Pay isn’t getting wider attention within the e-commerce app, therefore, a standalone app might help the service gain popularity in India’s digital payments market.
Amazon Pay being the sixth most popular app on the Unified Payments Interface (UPI) in July processed 72.4 million transactions which are about 0.5% of all UPI transactions.
However, Walmart-owned PhonePe was at the top of the market with 6.9 billion transactions, followed by Google Pay with 5.3 billion.
