Expanding its wallet capabilities further and bringing in competition in the e-wallet ecosystem, Amazon has announced person-to-person payments via Amazon Pay in India.
Users will now be able to conduct recharges, transfer money via the bank, pay for bills and services, and more via Amazon Pay, which is based on UPI. Additionally, users will be able to pay local stores or even for Amazon orders via Amazon Pay.
The process of transacting is pretty simple: users are required to select the person’s contact for money transfer, or UPI ID, or bank account details. Following this, they just need to enter to amount to transfer and are good to go.
For users who do not have a UPI ID, they can use BHIM UPI ID or bank account details to transact.
Amazon Pay is protected by multi-factor authentication, which includes a customer’s phone, SIM details, and UPI PIN.
In addition to this, the app displays users’ recent transactions for ease of repeating it and even sends notifications to both the sender and the receiver on receiving the payment.
To recall, Amazon Pay was previously just used as a wallet to make purchases on Amazon or any other website.
Amazon Pay (available currently for Android users) stands against the likes of the most recent Mi Pay, Paytm, and the popular Google Pay, which seems to lead the UPI-based digital wallet arena.
It will be interesting to see how the new entrant competes with the existing ones, and if it succeeds in impressing users, it would mean a new milestone for Amazon.
Will you use Amazon Pay to pay your impending bills? Let us know in the comment section below!
