AmazonPay For Business UPI App launch

AmazonPay For Business UPI App launch:

Amazon Pay for business app is currently available on Android and will allow businesses to register themselves and start accepting digital payments by generating a unique quick response (QR) code on the app.

App link – https://play.google.com/store/apps/details?id=c...

Amazon Pay, the fintech arm of Amazon India, on Saturday said that it has on boarded close to 5 million merchants across its various payment solutions and announced the launch of its new ‘Amazon Pay for Business’ app to simplify payment needs of small and medium enterprises.

The Amazon Pay for business app is currently available on Android and will allow businesses to register themselves and start accepting digital payments by generating a unique quick response (QR) code on the app.

Customers can then use any unified payment interface (UPI)-based app to scan the Amazon QR code and make a payment to these businesses.

“The Amazon Pay For Business app will further catalyse adoption of digital payments and enable merchants to enter the digital ecosystem in minutes. We have built and scaled our digital payment acceptance for SMBs using UPI that is inarguably one of the world’s biggest digital payments platform and look forward to creating more products that transform the way India pays," said Mahendra Nerurkar, chief executive officer, Amazon Pay India.

Of the 5 million merchants on Amazon Pay, 2.5 million operate retail and shopping outlets such as kirana stores, the company said. Another 1.9 million merchants on Amazon Pay operate food and beverage outlets such as restaurants, small eateries, along with salons, and medical care establishments.

Recently, Amazon had acquired retail tech startup Perpule in an all cash-deal of ₹107.6 crore to bolster its play in the kirana-tech space, according to regulatory filings.

The e-commerce major was looking to deploy Perpule’s ‘UltraPoS’ solution which helps small businesses digitally manage and automate inventory, purchase orders from distributors, and help in billings.

Earlier this week, Amazon India also said that it will sign up 1 million offline retailers and neighbourhood stores by 2025 through its ‘Local Shops’ programme, aimed to help local stores gain an online foothold.