News

Amazon Pay Adds P2P Payments In India, Sets To Compete With Google Pay

Amazon Pay is offering up to INR 120 cashback to customers for using its UPI payments services.

Amazon Pay Adds P2P Payments

The boom of unified payments interface (UPI) in India attracts another big enterprise to launch the UPI based payments services. 

Today Amazon announced that its Amazon pay has enabled person-to-person UPI based payments services. From today onwards, users can transfer money from bank to bank. Now, via the Amazon app, one can settle bills, send money to family, pay for various services and divide the party’s expenses with friends.

Amazon's UPI payments services announcement was set to come out in the past year but due to data privacy regulations and data localization, the launch was delayed. In 2018, Amazon Pay showed its intentions by acquiring Tapzo. The company provided online payment services with the help of the BHIM app on UPI.

To provide peer-to-peer payment services in India, the company has partnered with Axis Bank. Amazon Pay, a subsidiary of Amazon has even started giving @apl handles.

Vikas Bansal, director for Amazon Pay, India stated,

Amazon reported that Tier 1 cities are the source of 80 percent of its transactions and that its payments technology has a 2 to 3 percent higher success rate in comparison to industry standards.

It is quite easy to set up an Amazon Pay UPI payment. First, you need to verify your phone number then the UPI gateway will detect all the available linked bank accounts with the phone number. Finally, you just need to specify through which bank all the Amazon UPI payments will be made.

Vikas Bansal further added,

To transfer UPI enabled P2P payments, Amazon Pay app will automatically detect if the person is registered Amazon Pay UPI customer or not. If the contact is not registered for Amazon Pay UPI then the customers will have the two other options, either to pay via BHIM UPI or filling the receiver bank account details. 

As per the report from National Payments Corporation of India, the total number of UPI transactions in the country hits 799.54 million in March 2019.

Amazon Pay Journey

Now comes the interesting part for customers. Amazon is rewarding the customers to try its in-app UPI services by giving them up to INR 120 cashback. Noteworthy point is that the Amazon Pay app P2P money transfer feature is currently available only for Android users via new “Send Money” and “Request Money” links. 

The entry of Amazon Pay will fire the competition between UPI based peer to peer money transfer apps like Google Pay, Paytm and Phone Pe apps. One who will win for sure is customers whose life has become very easy after the launch of the bank to bank money transfer apps.

Arpit Dubey
Written By
Arpit Dubey
Arpit is a dreamer, wanderer, and a tech nerd who loves to jot down tech musings and updates. With a logician mind, he is always chasing sunrises and tech advancements while secretly preparing for the robot uprising.

Think Your Professional Journey
Deserves A Spot In Our 40 Under 40 Report?

Latest Blogs

News

Neuralink’s First Patient Can Control Mouse With His Thoughts

4 min read  

We all dream of getting at least one superpower in our name. Whether it is flying freely or controlling things with your mind, the urge to be able to do something beyond the ordinary is on almost every person’s wishlist. While we know that miracles cannot happen in the real world, Elon Musk ha

News

Mark Zuckerberg Reveals Layoffs Are Not Led By AI

4 min read  

The world has witnessed some of the most frequent mass layoffs in the last 4 years. The first two of them were led by prolonged lockdowns globally. The last two years witnessed a rapid surge in AI development, followed by mass layoffs across Unicorns, enterprises, and startups. As AI efficiency is b

News

Tools Emerge To Solve The Deepfake Porn Problem

4 min read  

The number of deepfake porn videos, images, and audio content is growing like wildfire. With the boom of generative AI, deepfake technology has become one of the most abused aspects of AI worldwide. People from all backgrounds are prone to become victims of this easy-to-access technology. However, t

News

AI Has Made Valentine’s Day Dark For 77% of Indians

4 min read  

Love is in the air, but it is mixed with the essence of Artificial Intelligence. With more people believing in AI, its usage has extended to individuals communicating through AI-generated messages. Shocking revelations have come to light in a survey conducted among 7,000 people across 7 countries. W

Featured Interviews

Interview

Interview With Coyote Jackson, Director of Product Management, PubNub

MobileAppDaily had a word with Coyote Jackson, Director of Product Management, PubNub. We spoke to him about his journey in the global Data Stream Network and real-time infrastructure-as-a-service company. Learn more about him.

MAD Team 4 min read  
Interview

Interview With Laetitia Gazel Anthoine, Founder and CEO, Connecthings

MobileAppDaily had a word with Laetitia Gazel Anthoine, Founder and CEO, Connecthings. We spoke to her about her idea behind Connecthings and thoughts about the company’s services.

MAD Team 4 min read  
Interview

Interview With Gregg Temperley, Founder Of ParcelBroker App

MobileAppDaily had a word with Gregg Temperley, Founder. We spoke to him about his idea behind such an excellent app and his whole journey during the development process.

MAD Team 4 min read  
Interview

Interview With George Deglin, CEO Of OneSignal

MobileAppDaily had a word with George Deglin, the CEO and co-founder of OneSignal, a leading customer messaging and engagement solution, we learn multiple facets related to customer engagement, personalization, and the future of mobile marketing.

MAD Team 4 min read