Amazon Invests ₹350 Cr In Amazon Pay India To Capture Fintech Market

E-commerce major Amazon has invested ₹350 crore in Amazon Pay India to give tough competition to fintech leaders PhonePe and Google Pay. Amazon Pay India has allotted 3.5 crore equity shares to its parent companies, Amazon Corporate Holdings Private Limited and Amazon.com, through a rights issue.

Amazon ups its Fintech game

According to Registrar of Companies filings, this infusion comes after a series of investments—₹300 crore in November 2024 and ₹600 crore in June 2024.

The fintech battle intensified as Flipkart’s fintech app, Super.money, reportedly started looking to raise $35-40 million from third-party investors. 

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Struggles of Amazon Pay India

As per the latest National Payments Corporation of India (NPCI) data, Amazon Pay’s position in the Unified Payments Interface (UPI) ecosystem slipped to eighth place as of March 2025.

Currently, the platform has captured only  0.6% market share, following behind top players such as PhonePe, Google Pay, Paytm, and others.

Amazon Pay offers an array of services, from UPI transfers and bill payments to insurance premium payments.

 It has also broadened its ecosystem by collaborating with platforms like BookMyShow, MakeMyTrip, RedBus, IRCTC, and Kuvera, enabling it to branch into travel bookings, entertainment, and wealth management.

Financially, Amazon Pay India reported a 9.22% surge in operating revenue for FY2023–24, reaching ₹2,286 crore.

Also, the company reduced its losses by 39%, lowering to ₹911 crore from ₹1,499 crore in the previous fiscal year.

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