Amazon Pay

Amazon Prime Day 2023 starts on July 15: Check offers on TV, phones, others

Prime Day deals are limited to customers who have bought Amazon's paid Prime subscription

Top headlines: India Inc commits Rs 11.87 trn to AP, RBI fines Amazon Pay

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RBI fines Amazon Pay (India) Rs 3 cr for not complying with PPI & KYC norms

Ola Financial Services, Obopay Mobile and Manapurram Finance other entities

RBI slaps Rs 3.06 cr penalty on Amazon Pay (India) for violation of norms

The Reserve Bank of India on Friday said it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC requirements," the RBI said in a statement. The RBI had issued a notice to Amazon Pay (India) advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. "After considering the entity's response, RBI concluded that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty," it said. The central bank, however, added the penalty is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction or agreement entered into by the Amazon Pay (India) with its customers. Amazon Pay is the ..

Amazon Pay, 31 other payment aggregators get RBI nod to continue operations

PayTM Payments Services and PayU Payments Private Limited are the entities whose application to continue as payment aggregators has been returned by the RBI

We are committed to India; review process is normal: Amazon India's Tiwary

In an interview with Peerzada Abrar, Tiwary said India has become the innovation hub for the company for the rest of the world. Edited excerpts

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

A step-to-step guide to transferring Amazon Pay balance to bank account

Note, however, that you can only do this if you have completed your KYC

Centre to not intervene in deciding deadline for payment platforms' 30% cap

PhonePe and Google Pay approached the National Payments Corporation of India (NPCI) asking for an extension to the December 2022 deadline for at least three years

Amazon witnesses biggest ever festive sale in India, says top exec

More than 80 per cent of the new customers came from smaller towns for the e-commerce giant's month-long festive sale event Great India Festival which would end on October 23

Amazon Great Indian Festival goes live; check what's new this year here

During the Amazon Great Indian Festival 2022, the e-commerce giant is claiming to sell products from over a million sellers

Walmart-backed PhonePe asks NPCI to extend the volume cap deadline

With this move, NPCI was aiming to reduce the concentration risk in the system and potentially curb the dominance of two large players while ensuring other players also get a chance to grow

Amazon Seller Services reports Rs 3.6K-crore loss; revenue up 32%

E-commerce firm's units for digital payments and selling cloud service report losses too for FY22

New Amazon shopping cart lets users scan & pay to skip checkout lines

The Dash Cart screen will now display images of fresh items nearby, like produce, for shoppers to choose from, or shoppers can type in the item name instead of a four-digit PLU code

Ban on loading through credit lines: PPIs call for clarity from RBI

Opinion is divided over whether or not the circular will impact the popular 'Buy Now Pay Later (BNPL)' schemes offered by many fintechs

Visa, Amazon reach global deal over payment fees

This agreement includes the acceptance of Visa at all Amazon stores and sites

Amazon Pay India's revenue grows 29% YoY to Rs 1,769 crore in FY21

The company reports a net loss of Rs 1,516 crore during the same fiscal

MakeMyTrip and Amazon Pay form strategic tie-up to offer travel services

With this alliance, MakeMyTrip will be able to further extend its distribution via Amazon Pay's large user base, especially in smaller towns, and speed up online booking of travel services

Amazon rapidly scaling up its e-payments, financial services in India

Amazon Pay UPI has recently added 5 crore customers in India.

Amazon Pay offering rewards to customers during month-long festive event

Customers can extend their budget and shop for favourite items across categories, can also use different payment modes on Amazon Pay to shop seamlessly