Amazon Pay, we are coming across the word frequently in the recent past. Amazon Pay is the latest player in prepaid wallet business in India which got the license from RBI.
Reserve Bank of India granted the wallet licence to Amazon in the name of Amazon Online Distribution Services. So the company is promoting Amazon Pay by offering attractive cashbacks, discounts and particularly at the time of flash sales Amazon Pay becomes more handy to the buyers.
The rival e-commerce company Flipkart already operating PhonePe app to ease fund transfer among people. Amazon tied up with few offline stores across the country to accept Amazon Pay from the customers.
Right now one can make payments upto Rs 10000 through Amazon Pay. For a average user the transaction limit is sufficient for most of the day to day needs.