Amazon India has acquired Noida based payment gateway company, Emvantage Payments.
Post acquisition, Emvantage team will join Amazon India to build payment solutions for the local market.
“EMVANTAGE is a valuable addition to our team as we accelerate our payment offerings, ensuring the best in class online payment experience anywhere that customers shop with us,” said Srinivas Rao, director of Amazon Payments India.
Amazon has been investing heavily in India and reported a loss of Rs 1,724 Crore In FY 14-15 (see: Amazon India revenue).
Amazon had recently said that it will be investing Rs 1,696 crore in Amazon seller services and expect tighter integration of Emvantage’s mobile payment solution with Amazon India.