American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents.

Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.Com.Incs Ltd, documents filed with Corporate Affairs Ministry showed.

The documents, sourced by business intelligence platform Tofler, said the date of allotment was June 6, 2019.

Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.Com.Incs Ltd. E-mails sent to Amazon India did not elicit a response.

The funding comes at a time when companies like Paytm, Flipkart-owned PhonePe, Google Pay and others are making significant investments to tap into the booming digital payments market in India.&nbsp;

Many of these firms have been offering significant cashbacks to woo customers to use their platforms to make payments for utilities and shopping.&nbsp;

American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents. Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.

American retail giant Amazon has infused Rs 450 crore into its payments unit in India - Amazon Pay, according to regulatory documents. Amazon Pay (India) has allotted 45 crore shares of Rs 10 each aggregating to Rs 450 crore to Amazon Corporate Holdings and Amazon.Com.Incs Ltd, documents filed with Corporate Affairs Ministry showed. The documents, sourced by business intelligence platform Tofler, said the date of allotment was June 6, 2019. Amazon Corporate Holdings has pumped in Rs 449.95 crore, while the remaining came from Amazon.Com.Incs Ltd. E-mails sent to Amazon India did not elicit a response. The funding comes at a time when companies like Paytm, Flipkart-owned PhonePe, Google Pay and others are making significant investments to tap into the booming digital payments market in India. Many of these firms have been offering significant cashbacks to woo customers to use their platforms to make payments for utilities and shopping.

Amazon invests Rs 450 crore in India payments unit

Amazon Pay has expanded its service to mobile recharges. Now users can also recharge their phone numbers using Amazon Pay, in beta stage.&nbsp;

&nbsp;&#39;Mobile Recharge&#39; will appear as one of the options in the Amazon Pay Section.&nbsp;

The app is designed with simple features for its users who&nbsp;just have to tap on the Mobile recharge option, enter their mobile number, operator/region and the amount for recharging their mobile phones.&nbsp;

Amazon told Gadgets 360: &ldquo;We continuously innovate on behalf of our customers. Our focus is on creating better shopping and payment experiences for them. Our new offering is towards this end. The offering is currently in beta.&rdquo;&nbsp;

Amazon Pay has been widely used in India for a while now. The app has attracted many users through its lucrative deals.&nbsp;

The Amazon wallet service or &quot;bucket&quot; can be accessed through web or Amazon India&#39;s app. It lets people store money in the bucket. Besides this, it also supports all the plastic cards and net banking option for payments.&nbsp;

Amazon Pay does not yet support recharges from Airtel network and other postpaid bill payments. Utilities like electricity bill, water etc can also not be paid by Amazon. However, Amazon says these features will be introduced soon.&nbsp;

&quot;We have not enabled postpaid bill payment (including payment of utility bills) as of now &ndash; please stay tuned; we will launch this feature soon,&rdquo; Amazon page details.&nbsp;

The company is also offering up to 100 per cent cash back (till Rs 50) on the first recharge done with Amazon Pay Balance.&nbsp;

Recharge once done through the app cannot be cancelled. Mobile recharge can be done through any form of plastic money but Cash on Delivery(COD) is not allowed.&nbsp;

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?'Mobile Recharge' will appear as one of the options in the Amazon Pay Section

Amazon Pay has expanded its service to mobile recharges. Now users can also recharge their phone numbers using Amazon Pay, in beta stage. 'Mobile Recharge' will appear as one of the options in the Amazon Pay Section. The app is designed with simple features for its users who just have to tap on the Mobile recharge option, enter their mobile number, operator/region and the amount for recharging their mobile phones. Amazon told Gadgets 360: “We continuously innovate on behalf of our customers. Our focus is on creating better shopping and payment experiences for them. Our new offering is towards this end. The offering is currently in beta.” Amazon Pay has been widely used in India for a while now. The app has attracted many users through its lucrative deals. The Amazon wallet service or "bucket" can be accessed through web or Amazon India's app. It lets people store money in the bucket. Besides this, it also supports all the plastic cards and net banking option for payments. Amazon Pay does not yet support recharges from Airtel network and other postpaid bill payments. Utilities like electricity bill, water etc can also not be paid by Amazon. However, Amazon says these features will be introduced soon. "We have not enabled postpaid bill payment (including payment of utility bills) as of now – please stay tuned; we will launch this feature soon,” Amazon page details. The company is also offering up to 100 per cent cash back (till Rs 50) on the first recharge done with Amazon Pay Balance. Recharge once done through the app cannot be cancelled. Mobile recharge can be done through any form of plastic money but Cash on Delivery(COD) is not allowed.

Amazon Pay expands its service to mobile recharges

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Amazon invests Rs 450 crore in India payments unit

Amazon Pay expands its service to mobile recharges