Amazon Pay tests out FDs as digital demand softens

AMAZON PAY'S RECENT entry into fixed deposits comes at a time when digital FD volumes are slowing sharply, raising questions about whether the product can gain traction on consumer apps the way mutual funds, stocks or loans have over the past few years.

- AYANTI BERA

The payments platform recently launched fixed deposits on its app, joining a small group of consumer-facing platforms that have attempted to distribute FDs digitally. The move follows a similar effort by Google Pay, which exited the segment in 2021 after failing to see meaningful traction. So far, sustained adoption of online FDs has been limited to niche fixed-income platforms such as Stable Money, Wint Wealth and Grip Invest.