American online retail giant Amazon has infused $20 million (Rs 130 crore) in Amazon Pay, with the much talked about wallet services for third-party payments finally rolling out in India.
Consumer adoption is key
“With a strong e-commerce engine to its credit, Amazon has to first build a critical mass of vendors and partners, which will then make it easier for consumers to move onto the Amazon Pay platform,” said Sanchit Vir Gogia, founder & CEO, Greyhound Research.
“However, how it uses the consumer data generated with its partners is a potential cause for concern. Hence, it will have to exercise some transparency on this front,” he added.
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Sanchit Vir Gogia: Sanchit is the Chief Futurist, Founder & CEO of Greyhound Knowledge Group, a Global Strategy & Transformation Research, Advisory & Consulting Group. He also serves as Chief Analyst & CEO of Greyhound Research, a Global, Award-Winning, Independent Technology & Innovation Research, Advisory & Consulting firm. To read more about him, click here.
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