Amazon Pay to introduce credit services on the Unified Payments Interface (UPI) platform in collaboration with the National Payments Corporation of India (NPCI).
Banking & Finance
Amazon Pay to introduce credit services on the Unified Payments Interface (UPI) platform in collaboration with the National Payments Corporation of India (NPCI). This initiative aims to enhance customer experience and value propositions. This news follows Amazon Pay's recent partnerships with RBL Bank for UPI payments, ICICI Bank for FASTag recharge, and the introduction of the Amazon Pay ICICI co-branded credit card. The platform obtained a payment aggregator license from the Reserve Bank of India (RBI) in February 2024, expanding its financial services portfolio. Earlier, it had received the central bank's approval for a prepaid payment instrument licence.
Amazon Pay boasts partnerships with approximately 8.5 million brick-and-mortar sellers across 350 urban and rural areas, along with over 10,000 online sellers.
HQ- Seattle, Washington, United States
Founded- 2007
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