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

Google Launches an App for People With Limited Mobility

2 min read  

Google introduced a new app to help users with mobility issues while accessing their smartphones. The company named the app, ‘Voice- access’ that enables the users to navigate through mobile and apps, write and edit text via voice commands.The app will take over your phone and allow

News

Tinder’s Location-Tracking Feature Promises to Spice Things Up

4 min read  

By infusing new features and strategies, Tinder is rightly catching up with other apps to jazz up its users. In one of the recent developments, Tinder has brought some amusing features to the table. A new feature called “Places” will enable other users to see all the locations you have v

News

Apple May Be Launching A Red iPhone Today

4 min read  

Apple may be coming up with a little surprise for its fans today by adding a new color to the iPhone. According to the reports, the company may be introducing a red color model for its iPhone 8 and iPhone 8 Plus lineup. Apple is launching the red color iPhone to honor its 11-year-old partnership wit

News

What is 5G Technology and When Will it Arrive?

2 min read  

The 5G Technology can be referred to as the next-in-line to 4G (LTE/WiMax), the current fastest mobile communication standard which is also known as the Fifth Generation wireless cellular network. 5G is not only aiming to lower latency, but it also boasts a theoretical maximum speed of 20 Gigabits p

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.