Amazon to double investment in India, add UPI to Amazon Pay

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Amazon India chief Amit Agarwal has said that the e-commerce giant is planning to double its investments in the country, according to a report by the Mint.

Agarwal was quoted as saying that the investment will be focused on key areas such as digital payments and the ‘Prime’ membership programme.

Amazon has committed to invest around USD 5 billion in India, and has spent more than USD 2 billion already.

The company also plans to add a feature to Amazon Pay service in India which would allow users to pay using services such as Unified Payments Interface (UPI).

“(Payment) has been and always will be a big area of investment for us,” Agarwal told the newspaper.

“We will launch UPI (soon) and it will be part of the Amazon Pay experience,” he added.

Agarwal also dismissed research reports which suggested that the e-commerce portal had trailed rival Flipkart in the recent festive sales.

“Of course, this was our biggest season ever….Let’s look at last year and look at how many people came back. If we look at last Diwali, more than 70 percent of the customers repeated many times during the year. So, that’s very exciting…In fact, one out of every five of them became Prime members. And this year, the number of transacting customers from last year was more than two times,” Agarwal told the newspaper.