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Amazon India: Digital payment surpasses CoD volume, Amazon Pay drives 48% transaction

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Amazon India has claimed that more than 60 per cent of its transaction is driven by digital payment modes including net banking and Amazon Pay balance in 2017. This is almost 10-15 percent jump from 2016 as its digital transactions were below 50 per cent in that year.

Amazon Pay wallet, which was launched in 2017 has driven a large part of its digital transactions, reports ET. The e-commerce behemoth also claims that Amazon Pay Wallet constitutes 48 per cent of all digital transactions on the marketplace.

Importantly, while using offline payment methods many customers are opting for company’s pay link options as well as PoS (point-of-sale) devices.

Amazon Pay is also set to integrate UPI support. It is also aggressively using its wallet instrument on third-party merchant sites across food, travel, movie tickets and mobile recharges and bill payments.

The company has tied up with merchants such as BookMyShow, FreshMenu, redBus, Housejoy, Yatra and Haptik among several others.

Unlike the United States where customers primarily use Amazon payments for e- commerce purchases, Indian customers largely use Amazon Pay for bill payments, mobile recharges and for booking movie tickets and food ordering.

Buoyed by spate in digital transaction volume, the Jeff Bezos-led company eyes to fuel usages of digital payment options among its customers through offering services based on their transaction data.

Also Read: Digital transaction surges post demonetisation, 48% shoppers moved from CoD to prepaid orders: Survey

The move is said to be similar to its rival Flipkart, which owns and operate UPI-based payment platform PhonePe. It claims to be a leader in UPI payments and continues to grow at fast pace.

Meanwhile, a survey conducted by Ratan Tata-backed CashKaro.com, about 48 percent of shoppers have moved from cash on delivery (CoD) to prepaid orders over a year after demonetisation.

The survey also mentioned that 54 per cent of shoppers use debit/credit cards for online shopping while 30 per cent of them prefer mobile wallets and 6 per cent shoppers transact via net banking and UPI.

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