Published On: Wed, Feb 17th, 2016

Amazon Acquires Emvantage To Build Its Online Payment Platform In India


Founded in 2012 by arch executive officer Vivek Sagar, Emvantage’s height includes a remuneration gateway for online exchange done regulating credit or withdraw cards, mobile remuneration collection that confederate into businessman apps, and a prepaid wallet.

Making it easier for business to compensate for online purchases is a pivotal indicate of concentration for India’s tip e-commerce businesses, that embody Amazon, Snapdeal, and Flipkart. India’s e-commerce marketplace is approaching to be value $100 million by 2020, though a country’s credit label invasion rate is still intensely low. Instead, many shoppers pay for e-commerce purchases regulating online wallets that can be surfaced adult during brick-and-mortar stores, pre-paid cards, or money on delivery.

Paytm, an online payments association corroborated by Alibaba, is positioning a mobile wallet as an choice to credit and withdraw cards, though it competes with several payment gateways owned by India’s vital e-commerce players. These embody Snapdeal’s Klickpay and Freecharge; FX Mart, that was acquired by Flipkart final September; and now Emvantage (Amazon is approaching to tighten a transaction by a finish of March).

In a statement, Srinivas Rao, a executive of Amazon Payments India, pronounced “Emvantage is a profitable further to a group as we accelerate a remuneration offerings, ensuring a best in category online remuneration knowledge anywhere that business emporium with us.”

Featured Image: Casper1774 Studio/Shutterstock

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