Focuses on helping SMBs accept electronic payments by registering 5 million merchants via Amazon Pay: Amazon

New Delhi: Amazon continues to focus on helping more small and medium-sized businesses (SMBs) in the country adopt digital payments by registering 5 million merchants through Amazon Pay on Saturday. I said there is.
Previously traded only in cash, these merchants are now accepting payments from customers using Amazon Pay QR codes.
“Since 2019, we have registered 5 million merchants through Amazon Pay and gained 40 million customers through services that use UPI. Obviously not only us, but many companies and competitors like Amazon. Working together, the flywheel is spinning faster, “Amazon Senior Vice President Russell Grandinetti said at Amazon’s Smbhav event.
He added that organizations and governments around the world are not only inspired by Aadhaar, India Stack and UPI, but are also considering emulating these models.
As part of the government’s digital India vision, a set of tools have been created under the India stack to assist government agencies, businesses, start-ups and developers in developing solutions to solve challenges such as financial inclusion and service delivery. I did.
This includes Aadhaar, e-KYC, UPI and more. Grandinetti gives an example of how these tools helped individual sellers reach customers across the country, and how it became easier to move orders across state borders. Was quoted.
“And now, when we look to the future, we want to help India’s business grow … I’m very optimistic about India’s coming years. I’m on this foundation Building on top of it, I’m very optimistic about what we can achieve, “he added.
Mahendra Nerukar, CEO of Amazon Pay India, said the company is driving its entry into digital India by allowing small business owners and entrepreneurs over Rs 500,000 to accept digital payments. He said he was.
“We have arguably used UPI, one of the world’s largest digital payment platforms, to build and expand the acceptance of digital payments for SMBs. More products that will transform India’s payment methods. I’m looking forward to creating it, “he said.
Of the SMBs over 500,000 rupees using Amazon Pay, over 250,000 rupees operate retail stores and shopping stores such as Kirana Store.
Approximately 100,000 rupees operate restaurants and small restaurants, more than 50,000 rupees provide services such as salons, nearly 40,000 rupees provide health and medical care, and the rest are taxi drivers and automobiles. It is composed of occupations such as drivers and plumbers.
Infosys co-founder Nandan Nilekani said SMEs are the future of India.
“We strongly believe that they are the driving force of economic growth and job creation, and we believe that they have a very good future … they are also becoming much more digital literacy.” He said.
Aadhaar architects explain that as these businesses digitize, real-time data availability helps banks assess the creditworthiness of small businesses and provide lending based on business flows rather than assets. did.
“So you’re actually lending the strength of a small company’s business,” he said.
Nilekani added that tools such as Digilockder and e-Sign can help SMEs provide more efficient systems, provide more services to consumers, increase sales and create jobs. ..

Focuses on helping SMBs accept electronic payments by registering 5 million merchants via Amazon Pay: Amazon

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