News

Amazon Pay Strengthens Its Digital Payment Presence With Acquisition of Tapzo

The deal between Amazon and tapzo is valued at around $50 million

amazon pay Acquired Tapzo

There is no denial of the fact that, every company has realized the real potential of the digital payment services scope in India. To gain the most out of this untapped opportunity, various companies are bringing fresh moves to stay at the top. Recently, the Google has renamed its popular app, Tez, as Google Pay. The American multinational technology company has also announced a new set of features which are intended to spread its reach beyond the present customer base.

Not to be left behind, the Amazon has also treaded on the same fray. To cement its place further in the digital payment industry, the e-commerce giant ’s digital payment solution arm, Amazon Pay, has acquired the Tapzo, an Indian startup of digital payments business. Initially, Tapzo was launched with the name “Akosha.”

The acquisition has taken place at a time when Amazon has added a new bill payments service that will help the users in paying their bills of mobiles, broadband, and electricity.

amazon pay

Amazon struck the deal with the Tapzo’s co-founders, Ankur Singla and Vishal Pal Chaudhary for an undisclosed amount. If the reports are to be believed, the deal between Amazon and tapzo is concluded at around $50 million, which is a handsome amount for a startup type company. The future course of action of co-founders is not known yet, but they might also get some stocks of Amazon Inc in return.

Tapzo is a platform that aggregates more than 35 different apps in one place, across different categories like cabs, food, recharge, bill payment, news, cricket, horoscopes and more.

payment services

Apart from Amazon Pay, the other notable digital payment services currently operating in the market are Google Pay, Phone Pe, Paytm, and MobiKwik. Now onwards, it will be interesting to see which service provider will float at the top and with this acquisition, Amazon would indeed try to go further.

Manish
Written By
Manish

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

Want To Hire The Best Service Provider?
MobileAppDaily will help you explore the best service providers depending on your vision, budget, project requirements and industry. Get in touch and create a list of best-suited companies for your needs.
News

Snapchat Rolls Out Snap Kit For Its Users'

4 min read  

Snapchat has unveiled a new set of tools that will allow the developers to integrate their apps into Snapchat. The multimedia messaging app company has named it as Snap Kit. The rumors of something for developers were already high from the last couple of months and with the announcement of Snap Kit,

News

Bigscreen: The Social VR App Just Hit $11 Million Fund Raise

4 min read  

Bigscreen, one of the most popular and innovative virtual reality app successfully raised $11 million in a series A funding. The app also secured $3 million earlier this year, which makes total of $14 million in the company's bag.The series A funding was led by the True Ventures and the Andr

News

Apps and Hacks To Help Improve Your Mobile Security

4 min read  

Just like any other digital device that can connect to the internet, your mobile phone poses a security threat if you don’t take the steps required to protect it. With so many new apps being released in the Apple App Store and the Google Play Store every day, it’s difficult to know which

News

Another Uber Head Employee Joins Electric Scooter Startup Bird

2 min read  

Bird, the scooter-sharing startup, joined by Dennis Cinelli and Yibo Ling, former Uber employee. The company is making considerable strides in terms of the new addition of electric scooters and the total number of rides as well. It's almost one year since the emergence of the company and the tot

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.