Amazon Pay Acquires Indian Personal Assistant Platform Tapzo

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Reports from Indian media sources indicate that Amazon has acquired Indian Payment and Personal Assistant platform Tapzo.

According to the Business Standard, the deal is valued at around $30 to $40 million and while an Amazon spokesperson declined to comment directly on the acquisition, the news outlet did receive this quote:

“Our commitment to the vision of a less-cash India remains the same. Our goal is to make it easier than ever before for customers to make digital payments by improving the customer experience, affordability, and daily routines.”

Tapzo is believed to have a user base of around 5 million and integrates with about 35 online services such as food delivery, cab services, bus tickets, ride-sharing services, payments, and more.

India The New Battleground

India is becoming the new battleground for western companies seeking to access its growing eCommerce business.

With Walmart’s taking a dominant stake in Flipkart recently, Amazon is trying to defend its own homegrown business interests, which this week also included adding bill payments to Amazon Pay in India.

How Amazon will integrate Tapzo into its Indian eCommerce strategy is unknown, but it could just be a technology purchase to integrate some parts of Tapzo into Amazon Pay.

The battle for eCommerce dominance in India will heavily rely on operating digital and electronic payment platforms.

In 2015, India’s government launched an initiative “Digital India” to build a cashless society which features the use of digital wallets, bank cards, and other digital and electronic payment methods.

Amazon Pay appears to be a key strategy for Amazon long term growth in India and the acquisition of Tapzo is just a small addition to that business.

READ MORE: Amazon Aims for Indian Supermarket Chain

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