To boost Amazon Pay in India, Amazon reportedly acquired Tapzo, an ‘all-in-one’ aggregator app, for $40M
On the heels of Google rebranding Tez to Google Pay in India, and Walmart acquiring a majority stake in e-commerce marketplace Flipkart, Amazon is also making a run in India to hone in on the country’s growing economy.
According to multiple reports, Amazon has paid around $40 million to acquire Tapzo, a startup that aggregates a number of app-based services — such as Uber, Ola, food delivery services Swiggy and Zomato, Book My Show, bill payment service BillDesk and more — into a single app. Amazon is reportedly paying between $30 million and $40 million, and its intention is to leverage Tapzo’s one-stop services app to help grow Amazon Pay usage in the country.
Amazon Pay has reportedly been seeing a wider global push to spur adoption of the service. But in India, the drive to get people to use Apple Pay may be particularly strong. Rival wallet services like Paytm, PhonePe, Google Pay, Mobikwik and others have swooped in a market where payment card usage is not that widespread, and consumers are conducting a growing number of transactions on their mobile devices. If you can get traction for your mobile wallet, that puts you …read more
Source: Tech Crunch