Amazon Pay acquires Tapzo for digital payments push


Amazon India’s payment subsidiary Amazon Pay has acquired Bengaluru-based app aggregator Tapzo to level-up its digital payments business in the country.

This acquisition is said to be done in the wake of increased competition from the rivals like Google Pay, Paytm, Flipkart’s PhonePe and WhatsApp’s payment service.

Tapzo has been picked up in a cash-and-stock deal valuing the company at $30-40 million by Amazon Pay India, says industry sources.

Sequoia-backed Tapzo was founded in 2009 Ankur Singla, Vishal Pal Chaudhury, Avinash Vankadaru, and Vishrut Chalsani. It has so far raised more than $20 million from Sequoia Capital and American Express Co., among others.

Earlier on Tuesday, Amazon India unveiled a new bill payments service. The service will help the customers in prepaid and postpaid bill payments on the Amazon Pay platform.

The company has also joined hands with several billers for mobile and broadband bill payments, among others for initiating the new service.


The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.