E-commerce is booming in India. In spite of the pandemic, e-commerce added 20 million new shoppers in 2020. However, analysts estimate that this number will likely double this year. As more and more shoppers come online, what role does smooth and frictionless payment play in driving e-commerce growth? To discuss this and more we caught up with Vikas Bansal, Director, Amazon Pay India. In our chat with Vikas we discussed:
- Challenges in E-commerce Payments in India
- Amazon Pay’s initiatives to solve for buyer and seller payments
- Push into offline payments
- Sound and audio based payments
- Amazon’s Fintech investments in India
- Road ahead for Amazon Pay in India
Do listen to this episode to understand how payments is helping drive e-commerce growth in India
Timeline
00:00 Start
00:43 Introduction
01:32 Vikas’s Introduction
02:42 Challenges in E-commerce Payments
05:21 Amazon’s initiatives to solve for challenges
14:24 Payment method uptake in Amazon Great Indian Festival
17:06 Solving for Seller side payments
21:26 Amazon Pay’s push into offline payments
24:26 Sound and Audio based payments
26:39 Amazon’s Fintech investments in India
29:06 Road ahead for Amazon Pay in India