wordpress blog stats
Connect with us

Hi, what are you looking for?

CashFree vendors can now use Amazon Pay to pay

By Nikhil Cariappa

Bangalore-based payments company CashFree has added Amazon Pay as a payment option for its merchants and vendors. It claims to be the first payment gateway to introduce such an option for its customers. CashFree claims to have 5000 online and offline customers who make and receive payments.

CashFree was founded in 2015 by IIIT Hyderabad graduate Akash Sinha and IIT Kharagpur graduate Reeju Datta. CashFree counts Paypal and Y Combinator as its investors. Amazon Pay was launched in 2007 in the US, but received approval by RBI to launch a digital wallet only in 2017, in India.

Amazon’s recent moves

  • Amazon India pumped a further Rs 220 crores into Amazon Pay, taking its total investment to Rs 1692 crores.
  • Amazon Pay acquired Tapzo, an all-in-one app which aggregates up to 40 apps in one place. This will enable Amazon users to make transactions across platforms and businesses directly using Amazon Pay as the medium of payment.
  • Amazon India introduced a door-step cash pick up to upload money into the Amazon Pay wallet.

CashFree’s metrics

  • 5000 merchants
  • 4 million transactions per month
  • 50% rise in transaction volumes every month (thanks to new product launches)
  • Transaction value expected to touch Rs 2500 crores per month by the end of FY 2019.

Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

India and US come to terms on how to deal with the equalisation levy in light of the impending Global Tax Deal.

News

Find out how people’s health data is understood to have value and who can benefit from that value.

News

The US and other countries' retreat from a laissez-faire approach to regulating markets presents India with a rare opportunity.

News

When news that Walmart would soon accept cryptocurrency turned out to be fake, it also became a teachable moment.

News

The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ