Amazon is stepping up their operations in India with the acquisition of EMVANTAGE, an online payment gateway in India providing services for accepting Credit Card, Debit Card, Netbanking, and Cash Cards Online.
India is of course a very exciting emerging market being the 2nd most populous country in the world, after China. India is also the fastest growing ecommerce market in the Asia-Pacific region, driven by the increased internet penetration and rising disposable income of Indian consumers, on. Online sales are in the region of $20 billion/year and expected to rise to $56 billion by 2023.
Amazon say that the acquisition will help them “accelerate the development of convenient and trust worthy payment solutions for customers and the ecommerce industry in India“.
The EMVANTAGE team will join Amazon and Srinivas Rao, Director Amazon Payments India added “We are laser focused on providing customers in India with a convenient and trust worthy shopping experience. EMVANTAGE is a valuable addition to our team as we accelerate our payment offerings, ensuring the best in class online payment experience anywhere that our customers shop with us“.
Where more than half live on less than $1 a day. Grats amazon !
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