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Amazon India: digital payments account for over 60 percent in 2017

Friday 19 January 2018 | 08:49 AM CET

Amazon India has stated that digital payments now account for over 60% of its total transactions compared to less than 50% in 2016.

A large share of this growth is due to the Amazon Pay wallet, as balance loaded by customers grew 409% year-on-year. Amazon Pay wallet was launched in June 2017 and now accounts for 48% of all digital transactions on the platform.

According to the latest figures, 60% of transactions are being done through online payment methods, across cards, netbanking and use of Amazon Pay balance. Even in the remaining offline transactions, many customers are opting for Amazon's pay link options as well as PoS devices and cash reloads to the wallet.

Amazon Pay is also set to launch UPI support, which is currently in a beta stage. Amazon is also using its wallet instrument on third-party merchant sites across food, travel, movie tickets and mobile recharges and bill payments. The company has tied up with merchants such as Book-MyShow, FreshMenu, redBus, Housejoy, Yatra and Haptik where customers can use Amazon Pay.

Compared to US customers, who use Amazon payments for other ecommerce purchases, in India, customers are using Amazon Pay for bill payments, mobile recharges and for movies and food.

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