Amazon Launches into P2P Payment Warzone with Awesome Paybacks

Business Featured

Amazon launched its own payment system in India recently. The company is now a full-fledged competitor in a payments app battlefield. It recently announced bank-to-bank transfers as well as person-to-person payments as well. The company also enables consumers to recharge their mobile phones, pay electricity bills, and of course shop online.

Using AmazonPay, customers get a 120 rupees cashback, a perk induced to outshine GooglePay and Paytm. These two competitors are well-known for their cashback schemes in the Indian market. Due to their bonanza schemes, these have become familiar names to every Indian household in no-time. Additionally, Amazon may also struggle in the payment app market.

Currently, over 90% of retail in India is a playing field of small stores, owned traditionally by families. Only 3% of these are tech-enabled, which makes development more challenging for Amazon. The e-commerce giant wishes to dig-deeper into the grocery business with better financial logistics, more insights into customers, and inventory management.

Recently, Amazon launched a B2B inventory management and supply program countrywide for a ‘kirana’ stores, commonly known as mom-and pop stores in US.

Indian P2P Business: A Booming Opportunity

India is witnessing a growing influx of large investments in the P2P market. Recently, Alibaba entered the Indian P2P market with a large stake in Paytm. Furthermore, Google is investing millions into making the platform irresistible for consumers. Google continues to offer a simple design, and a non-nonsense business alike look.

On the other hand, Paytm offers a ton of consumer products for sale, possibly working in close-collaboration with Alibaba. The app has its own version of a virtual mall and competes with Amazon.

Amazon’s huge cash flow promises to hand-in extraordinary advantage to the company on the P2P battlefield. However, cash rich pockets of Google and home-advantage of Paytm promises a bright future for competition and consumers.

Avatar
Edward Turner

Edward has his fingers firmly placed on the pulse of the business world. He has a keen eye for any new development that could rock our world. He is adept at strategizing to boost web traffic and generate new leads. He is also an expert in Google Analytics, something which he feels could go a long way in getting sites more traction by providing necessary insights.

Leave a Reply