Amazon to take on Paytm, Flipkart's PhonePe with its digital wallet licence

In the next few months it will get into railways, utilities and insurance payments

Amazon India has received a payments wallet license from the Reserve Bank of India, as it looks to boost savings and retain customers within is ecosystem as it takes on rivals Flipkart, and Alibaba's Paytm.

The US retailer is looking to allow users to shop on its platform, make offline payments, buy bus and rail tickets and pay for utilities through its digital wallet. This will put the company squarely against Paytm and Flipkart-owned PhonePe, apart from number two player FreeCharge.

All three players are betting on the payments space to engage the growing base on online shoppers in India. Paytm's parent