 "The brand value of Amazon surged by 52 per cent to $315 billion")
Online retailer Amazon has invested Rs 450 crore in its digital payments arm Amazon Pay (India). The funding would help the Seattle-based company tap India's booming digital payments market and compete with Walmart-owned PhonePe, Alibaba-backed Paytm, and Google's mobile payment service Google Pay.
The funding came from Singapore-based Amazon Corporate and Mauritius-based entity Amazon.com, according to regulatory documents filed by Amazon, which were sourced from business intelligence platform Tofler.
Amazon Pay got the capital infusion on June 6 by offering 45 crore equity shares.
This month, Amazon stepped up its investment in India and pumped in Rs 2,800 crore into its marketplace. The
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