With Rs 5.9-bn infusion, Amazon jacks up India payments unit thrice in 2018

Amazon's investment in its payments unit in India comes despite the stalling of its rollout of a UPI-based payment product over lack of clearances from the RBI

In a bid to take on rival digital payments services such as Paytm, PhonePe and Google Pay, US retail giant Amazon has pumped in a fresh tranche of Rs 5.9 billion (approx $80 million) into its Indian payment unit Amazon Pay. It is the third such transaction this year. 

The bulk of the investment was made by Amazon Corporate Holdings Pvt Ltd on September 19, according to documents filed with the Registrar of Companies (RoC) sourced from business intelligence platform Paper.vc.

The e-commerce giant had infused AmazonPay with Rs 1.95 billion in March this year and another Rs 2.3 billion