Digital payments entity Amazon Pay has lined up multiple promotional offers for Unified Payments Interface (UPI) users and Ru-Pay cardholders, expecting this to help its parent ecommerce marketplace reach deeper into small cities and towns.
While embarking on a partnership model with a number of public sector banks to extend these offers to customers, Amazon Pay is also building innovative payment solutions to drive adoption of UPI and RuPay.
“We are lining up investments worth a few crores of rupees every month to drive adoption of indigenous payment modes like UPI and Ru-Pay. Through this, we are trying to drive adoption of digital payments in tier two and three locations,” said Vikas Bansal, director, emerging payments, at Amazon Pay, speaking exclusively to ET. Amazon India confirmed it is working with private sector lender Axis Bank to develop its own UPI payment option under Amazon Pay. ET had reported in its August 6 edition that Amazon was planning to offer its own UPI handles in partnership with Axis bank.