Continuing its investment in India, Amazon today announced the launch of person-to-person (P2P) payments via Amazon Pay for Android users in the country. Customers can now make instant bank-to-bank transactions through the UPI platform on the localized version of the Amazon app, allowing them to settle bills and other expenses with friends, lend or return money to family, pay for services and more. Notably, the new P2P service also will allow customers to make payments from their bank account to local stores or to Amazon delivery associates at the doorstep, who will scan a UPI QR code within the Amazon app.
The service is built on the Indian government-backed UPI platform, which is regulated by the Reserve Bank of India, and is designed for instant transfer of funds between bank accounts using a mobile device. With the Amazon Pay service, customers can either send or receive P2P payments by … Read the rest