Amazon is considering launching Amazon Pay as a standalone app to enhance its market presence in India’s competitive e-commerce sector.
According to a report by TechCrunch, based on information from three anonymous sources, Amazon executives believe that a dedicated app could increase the visibility and adoption of the payments platform in the country.
As it stands, Amazon Pay is the sixth most popular app on the Unified Payments Interface (UPI), which is the primary method for online transactions in India. In July, Amazon Pay processed approximately 72.4 million transactions, representing only about 0.5% of the total transactions on the network. In comparison, PhonePe, owned by Walmart, processed 6.9 billion transactions, while Google Pay managed 5.3 billion.
Google introduced its Wallet app in India in May of last year, but unlike other regions, it has retained Google Pay as an independent option for NFC and UPI payments.
Sources indicated that Amazon has already contacted the National Payments Corporation of India to seek approval for this initiative.