BENGALURU: Amazon continues to pump capital into Amazon Pay, adding Rs 220 crore in the latest infusion just a month after it injected Rs 590 crore into its payments arm.Digital transactions accounted for 75% of all transactions on Amazon India during its recent festive season sales thanks to Amazon Pay, through which the company offered large cashbacks and other easy payment options.
Amazon Pay’s options for mobile service recharges are also attracting a high number of new customers to the platform. The payments arm saw a significant jump in revenue to Rs 394 crore in financial year 2017-18, a 5,100% annual increase.
But its loss for the year increased by 88% to Rs 334 crore as it spent Rs 264 crore on ads and promotions.