Amazon acquires Indian payments processor Emvantage

Amazon.com Inc said it has acquired Indian payments processor Emvantage Payments Pvt Ltd for an undisclosed sum.

Emvantage’s employees will join Amazon’s India unit that will use the company’s technology on its e-commerce website, Amazon said in a statement.

Amazon has been rapidly expanding into India’s fast growing e-commerce segment that is likely to grow to $220 billion by value of goods sold by 2025.

Reuters

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