E-commerce giant Amazon has launched peer-to-peer (P2P) payments service in India leveraging Unified Payments Interface (UPI).
Amazon Pay users can now make instant bank-to-bank transactions on the local version of the Amazon app via UPI platform.
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By GlobalDataThe service, which can be availed by Android users, also enables users to pay from their accounts to local stores or to Amazon delivery associates.
Earlier this year, Amazon joined forces with Indian private sector lender Axis Bank to launch Amazon Pay UPI for Android users in the country.
The partnership enabled Android users to link their bank accounts to the Amazon app.
Customers were issued unique UPI IDS, which can be used to make payments for online purchases on Amazon.in as well as for recharges and bill payments.
All this can be done without the need to enter card credentials, OTPs or internet banking details.
Amazon Pay director Vikas Bansal said: “Our goal is to make Amazon Pay the most trusted, convenient and rewarding way to pay for our customers.
“The customers trust their Amazon app and we continue to expand payment use cases directly on the app.
“With this launch, we have the largest selection of shopping and payment use cases on the Amazon Android app which provides added convenience and control to our customers.”
The P2P payments space in India already has the presence of established players such as Paytm and Google Pay.
As inaugural offer, Amazon is providing users up to INR120 ($1.73) cash back on sending money through UPI.
