NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, May 22, 2015

The State Bank of India (SBI) and Amazon.in have agreed to work together and focus efforts on improving payments and e-commerce solutions for small businesses across the country.

The partnership will enable the two groups to create new payment solutions to help underserved small businesses connect with customers on a digital level.

‘‘As the premier bank of the country, we are always exploring ways to fulfill the aspirations of our millions of customers. Our partnership with e-commerce platforms like Amazon would give a fillip to e-commerce in India and brings lots of value to our retail and SME customers,’’ said SBI chairman Arundhati Bhattacharya.

The collaboration is taking place within a country that has potential to grow its e-commerce market even further.In 2013, Asia-Pacific gained $567.3bn through B2C e-commerce channels, emerging as the strongest region for growth in that year.