Pune: Close to 1.5 lakh Small & Medium Businesses Now Use Amazon Pay

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Pune, April 20, 2021: As part of Amazon’s commitment to digitally enable small & medium businesses (SMBs) in India, Amazon Pay today announced that it has empowered over 50 lakh neighborhood stores & businesses with its digital payments infrastructure. In Pune, close to 1.5 lakh small & medium businesses now use Amazon Pay. These SMBs, most of whom earlier transacted only in cash, can now accept payments from their customers using Amazon Pay’s QR Code.

This milestone achievement was revealed by Amazon’s Senior Vice President, Russell Grandinetti, in conversation with Nandan Nilekani during the session ‘innovating for a better India’ at Amazon Smbhav.

These 50 lakh SMBs constitute a diverse set of merchants and entrepreneurs. More than  25 lakh  operate retail & shopping outlets such as kirana stores, about 10 lakh operate food & beverage outlets such as restaurants & small eateries, over 5 lakh offer services such as salons, close to 4 lakh offer health & medical care while the remaining comprise of vocations such as taxi drivers, auto drivers, plumbers and more.

Amazon Pay has also launched the “Amazon Pay For Business” mobile app to simplify accepting digital payments for SMBs. Currently available on Android, the app can be used by businesses across the country to register themselves, generate a unique QR code and start accepting digital payments within minutes. Customers can use any UPI app to scan the Amazon QR code and make a payment to these businesses.

Mahendra Nerurkar, CEO, Amazon Pay India who moderated this session said “Small & medium businesses are the backbone of our nation’s economy. By enabling more than 50 lakh small business owners and entreprenuers to accept digital payments, we are expediting their inclusion into digital India. The Amazon Pay For Business app will further catalyse this adoption and enable merchants to enter the digital payments ecosystem in minutes. We have built and scaled our digital payment acceptance for SMBs using UPI that is inarguably one of the world’s biggest digital payments platform and look forward to creating more products that transform the way India pays.”

Amazon Pay offers the following benefits:

  • A variety of contactless payments acceptance methods: Customers can use the Scan & Pay feature on the Amazon shopping app or any other UPI app to shop from an SMB who uses an Amazon QR code. The UPI-enabled QR code allows SMBs to receive payments directly into their bank account.
  • Opportunity to scale up their business: Digital payments acceptance capability helps merchants tap a larger customer base, especially customers who prefer digital payments for convenience and hygiene.
  • Monetary incentives: Amazon continues to run various rewards programs for eligible merchants to encourage them to join the digital wagon. Currently, eligible merchants can win up to INR 5,000 every day upon using Amazon Pay to accept digital payments.
  • Access to special programs: On accepting payments through Amazon Pay, SMBs get access to several programs & benefits created specifically for small businesses & entrepreneurs by Amazon in India. These include access to tools, existing programs, new business avenues and more.
  • Supporting the national economy: By accepting digital payments, merchants can become part of the financial mainstream and support the Government’s goal of building a robust digital economy.