BENGALURU: Amazon Pay, the digital payments offering of ecommerce giant Amazon, has received a fresh fund infusion of Rs 450 crore from its parent entity, according to filings with the Registrar of Companies accessed from business intelligence platform Tofler.

The funds have been pumped in by the Mauritian entity of Amazon, as per the regulatory filings. This would help the ecommerce giant to fight for a larger share of business in the payments space which is dominated by other entities like PhonePe which is part of the Walmart group and Paytm which is backed by Alibaba and Softbank.

This round takes the total funding that Amazon Pay received from its parent entity to more than Rs 3,000 crore, since its inception back in 2016.

Amazon, which started as a mobile wallet armed with a prepaid payments licence from the Reserve Bank of India, has now entered into the Unified Payments Interface space as well. ET had reported in its January 9 edition that the American tech giant was offering UPI payments in partnership with Axis Bank and had managed to go live after it localised its data storage within the country.

While it has simplified transactions for its own consumers, it is also opening up other payment use cases like bill payments, recharges and shopping via other platforms to enhance the payments use case for its users.

The digital payments space has heated up in a major way with battlelines being drawn between homegrown startups like PhonePe and Paytm on one side and Google Pay, Amazon Pay and WhatsApp Pay on the other. As per latest transaction numbers sourced from industry sources, Paytm, PhonePe and Google Pay are still leading the race.

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