Amazon Prime, the e-commerce marketplace’s membership program, is now available on a monthly basis, Firstpost reports. The monthly pricing is ₹129, which is around 50% costlier on an annual basis than the one year plan, which costs ₹999. Amazon Prime comes with some delivery and sale perks, as well as Prime Video and Prime Music. Unlike the yearly plan, this option comes with auto-renewal, which will bill users’ cards automatically each month. While auto-renewal is still a bit of a grey area, the RBI doesn’t seem to be raising any concerns even as more digital content businesses have started doing it.
Amazon’s Prime service is estimated by IHS Markit to have around 6 lakh subscribers in India. The company does not disclose country-specific subscriber numbers outside the US. IHS estimated that Netflix has 5 lakh subscribers.
Amazon India updates
— Amazon India has expanded its Seller Lending program, with the launch of Seller Lending Network to enable loans to sellers from third-party lenders such as Aditya Birla Finance, Bank of Baroda, Capital First, Capital Float, Flexiloans, and Yes Bank.
— The company has infused Rs 10.5 crore in its Indian food retail arm Amazon Retail India, per MCA filings.
— It rebranded its app-only grocery service to Prime Now from Amazon Now, and has expanded its product category along with new time slots for the users.