Amazon India eyeing to launch a digital wallet in Q2, 2016 Edited by Pulak at 2016-03-09 12:06
It looks like Amazon India is the latest entrant in the effervescent digital wallet market. The e-commerce giant is gearing up to launch its own digital wallet in the country by Q2 2016, according to a latest report from the Times of India. The news comes only days after its rival Flipkart launched the Flipkart Money Wallet. The report says that Amazon India is looking at multiple acquisitions in the online payments space as the digital wallet market is buzzing with new entries. Apparently, Amazon India has initiated acquisition talks with digital wallet and payments startups. Last month the company acquired Emvantage payments services provider that was its first acquisition in India. “Building own wallet helps it restrict access to customer data in the company’s ecosystem and monetize customer insights”, a familiar source told the publication. Amazon had launched its digital wallet in the US, but it pulled the plug on it only after six months. Amazon and Flipkart are already at war when it comes to conquering the top spots in the buzzing Indian e-commerce space. However, it remains to be seen how the two companies will fare in case of digital wallets as they will face a tough competition from the likes of Paytm, Freecharge, Mobikwik and others. Source Guys what do you think. Digital wallets will work in India. Share your thoughts | |
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Edited by brian_rodrigues at 2016-03-09 00:26
It would be interesting to see how this new strategy works out for amazon... I personally feel they should stick to what they are best at (online shopping) rather than trying to compete with others and loosing focus... Such digital wallets havn't proved to be a great success for Paytm nor Snapdeal (Freecharge)... Amazon is currently the best in India when it comes to online shopping and they should focus on just this... Sometimes some new strategies do backfire...  | |
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Flipkart also start wallet service name flipkart money......
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That will be great! And also trusty and reliable as it is Amazon!
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i think it's an interesting strategy coming out with this new method, mixing it up a little but at the same time they should be prepared for the worst to come as they have already backfired in the US
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All are coming up with their own wallets.. It is already an over crowded area.
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Depends on how interesting people find it
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