Amazon Launches Amazon Pay Balance in Bid to Increase Cashless Transactions in India

Monday, December 19, 2016

Amazon India on Friday launched its online wallet Amazon Pay Balance, in a bid to increase cashless orders.

“With no additional authentications required, customers get the benefit of fast and smooth checkout (from Amazon Pay). Amazon Pay Balance helps customers store balances for essential items and solves the pain point of tendering exact amount of cash at the time of delivery.” the company said in a statement.

The company, which does not offer an online wallet based payment option, has introduced a payment option similar to how mobile wallets work. The option is, however, limited to Amazon-based transactions.

Source: Livemint (link opens in a new window)

digital payments, fintech