Amazon aims to establish a foothold in India’s mobile payments space through new acquisition
|Amazon has successfully acquired Emvantage Payments
Amazon is looking to compete for the favor of India’s mobile shoppers and has announced the acquisition of Emvantage Payments. The company specializes in payments, allowing online merchants to accept credit and debit card transactions. The company also supports mobile payments, something that Amazon has become very interested in over the past few years. India is one of the world’s fastest growing mobile commerce markets and merchants throughout the world are looking to establish a strong foothold in the country.
Emvantage will continue to help merchants connect with mobile shoppers
Emvantage allows merchants to connect with consumers more easily. Amazon believes that its acquisition of Emvatage will allow the company to accelerate the development of new e-commerce services in India. Emvantage employees will be incorporated into Amazon’s payments team, which will develop products and solutions that are specific to the needs of Indian mobile shoppers. Demand among these shoppers for convenient and secure services has been growing, especially due to the advent of mobile commerce.
The e-commerce space is slated to see strong growth through 2020
Amazon may face significant competition in the mobile sector
Amazon is working to compete with some of the largest e-commerce companies in India, which have begun to focus on the mobile sector. Mobile consumers have proven to be quite enthusiastic when it comes to online shopping and smartphone penetration is growing quickly throughout the country. As this trend continues, more consumers are likely to take advantage of mobile payments services that allow them to purchase products online.