Amazon Pay now 5 million merchants strong, new app launched for businesses

Amazon Pay has onboarded over 5 million merchants utilizing its digital fee options, Amazon introduced on Saturday, April 17. The ecommerce big revealed that 2.5 million merchants out of the overall 5 million businesses function retail and purchasing retailers comparable to Kirana shops. 

Amazon Pay’s round 1.9 million merchants are working meals and beverage retailers comparable to eating places and small eateries. Other businesses that the corporate has onboard embody salons, medical care institutions, and extra. 

Amazon Pay, the fintech arm of Amazon India, has additionally launched a new ‘Amazon Pay for Business’ app aimed toward simplifying the fee wants of small and medium enterprises. 

The newly launched app is at present solely accessible on Google Play Store. The app permits any service provider to shortly register its enterprise and begin accepting digital funds by way of a unified funds interface (UPI) by producing a novel fast response (QR) code on the app.

Customers can shortly pay merchants by way of UPI utilizing the QR codes of the merchants. Mahendra Nerurkar, chief govt officer, Amazon Pay India, mentioned, “The Amazon Pay For Business app will further catalyse adoption of digital payments and enable merchants to enter the digital ecosystem in minutes. We have built and scaled our digital payment acceptance for SMBs using UPI that is inarguably one of the world’s biggest digital payments platform, and look forward to creating more products that transform the way India pays.” 

Amazon has been betting massive on the Indian market, regardless of extreme backlashes from a number of commerce organisations which have alleged that the ecommerce big prefers a handful of sellers over lakhs of others promoting on the platform. 

Just a couple of days again, Amazon had launched a large $250 million fund to empower small and medium enterprise throughout the nation. Amazon mentioned that the corporate is trying to deliver 1 million offline retailers and neighbourhood shops by 2025 via its ‘Local Shops’ programme. 

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