Paytm and MobiKwik, India’s largest mobile wallet companies, had better pad up for their biggest competition yet. For, Amazon is preparing to enter the mobile recharge segment, which accounts for nearly one-third of spending on mobile wallets, with Amazon Pay.
“That is an opportunity for Amazon, which has great technology and has already got a large ecosystem of sellers and buyers on its platform. With a wallet topped up with a lot of services, Amazon can be a potential threat to a large number of mobile payment companies,” said Sanchit Vir Gogia, Chief Analyst & CEO at Greyhound Research.
“Amazon needs to add a large number of service lines and categories. They have the user base volume to justify investments and more importantly use it as a platform to improve customer retention and increase sales by way of cross-selling and upselling,” said Gogia.
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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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