Facebook, Google and Amazon may use payments data for e-tail dream

India's payments space has the growth potential of becoming a trillion-dollar industry in the next five years.

Google, Facebook and Amazon, who entered India’s digital payments market through the United Payments Interface (UPI), may use the payments transaction data to support their retail offerings, say experts.

Google recently launched a shopping homepage here. Facebook-owned Instagram also plans to bring shopping on Instagram to India. “Shopping on Instagram is currently available to businesses in 46 countries, and we are gradually expanding to additional partners in countries around the globe, including India,” an Instagram spokesperson said. Amazon has been a leading player in the e-commerce space.

India’s payments space has the potential of becoming a trillion-dollar industry in next