Amazon Pay expanding smart stores service to 150 brands

Amazon Pay will collaborate with top 20 brands this year as part of a plan to enhance its Smart Stores service and take its total brand partnership to 150, a senior executive of the firm said.

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The Bengaluru-based company, the fintech arm of e-commerce major Amazon India, has launched 18,000 Smart Stores in the country since its inception in 2019.

“We could have launched Smart Stores at a higher velocity but we are gradual in terms of just making sure that the right inputs are there. This year we will see the top 15-20 brands coming on board with us,” said Girish Krishnan, Director – Payments, Rewards & Merchant Services, Amazon Pay.

“In some categories, more than 90 per cent of sales are actually happening offline. Consumer durables is one of the categories… We have rolled it out across thousands of stores in India. We have seen really good traction. Merchants get about 10 to 20 per cent increase in sales,” he added.