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Amazon acquires Emvantage Payments for an undisclosed amount

Our Digital Payments coverage is brought you by Chillr: India’s 1st multi-Bank instant mobile payment app enabling fund transfers to anyone in your phonebook. Amazon India has acquired the Noida based payment gateway company Emvantage Payments for an undisclosed amount, reports NextBigWhat. Post acquisition, the Emvantage team will join Amazon India and its payment technology will be used on Amazon’s website. As of now, Emvantage offers a payment gateway for businesses with features like a Facebook buy button, 3D secure merchant plug in, QR code based payment solutions, EMI payments option and a payment scheduler option. The platform charges a three-tiered payment plan, charging a percentage of the transaction of the fee depending on the plan selected. It also offers a custom plan for merchants with volumes higher than Rs 50 lakh. It's not clear if these services will continue to be available independently post acquisition. Note that Amazon recently added new funds worth Rs 1,980 crore (~ $290 million) into its Indian business unit. At the time, the company said that “We are very pleased with the growth momentum we are witnessing in India. In Q4-2015 we sold more than we did in all of 2014. We  are committed to invest aggressively in the country with a long term horizon and transform the way India buys and sells.” The recent fund addition comes after Jeff Bezos, founder and CEO of Amazon, pledged $2 billion in India, back in 2014 to support its growth and improve the customer & seller experience in…

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