Active Stocks
Fri Sep 22 2023 15:58:38
  1. Tata Steel share price
  2. 126.7 -0.86%
  1. HDFC Bank share price
  2. 1,529.2 -1.57%
  1. State Bank Of India share price
  2. 598.1 1.67%
  1. Power Grid Corporation Of India share price
  2. 199.1 -1.34%
  1. Tata Motors share price
  2. 621.1 -0.93%
Business News/ Technology / Amazon Pay reaches to over 85 lakh SMBs in India

Amazon Pay announced that it has reached to over 85 lakh offline small business owners and entrepreneurs with its digital payments infrastructure. Earlier, these merchants largely transacted in cash for business operations, now they accept payments from their customers using Amazon Pay’s QR Code. Furthermore, initiatives such as Amazon Pay for Business App, voice notification feature, easy availability of working capital loans, have enabled such micro-businesses, and merchants to experience a convenient digital journey.

Of the 85 lakh+ SMBs, there are more than 40 lakh retail and shopping outlets such as kirana stores, general stores; over 13 lakh food and beverage outlets such as restaurants, small eateries, fast-food joints; around 30 lakh service providers such as salons, mobile recharge, internet café, health and medical care, travel and transport, education services, store owners comprising of miscellaneous categories and more.

Mahendra Nerurkar, CEO & VP, Amazon Pay India said “SMBs form the backbone of India’s economic growth. Our aim is to empower offline merchants, provide them with opportunities to expand their businesses, and enhance their payment experience amongst multiple other touch-points that expedites their digital journey. This milestone is a testimony of the trust that India’s 85 lakh+ SMBs have on us and we are truly humbled. We will continue to remain focused in our efforts to bring forth holistic initiatives, transform the way India pays and further catalyze the payment acceptance ecosystem for SMBs."

"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!

Catch all the Technology News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Updated: 09 Jun 2022, 03:54 PM IST
Next Story
Recommended For You
Switch to the Mint app for fast and personalized news - Get App