Amazon gets approval for launching its mobile wallet
Amazon India has received approval from the Reserve Bank of India (RBI) to launch its wallet service in India.
Amazon India is among 84 companies that have received the Certificates of Authorisation under the Payment and Settlement Systems Act, 2007,
The licence to Amazon Online Distribution Services Private Limited is valid from 22 March 2017 to 31 March 2022.
Amazon s partnership with Qwikcilver is likely to continue even as it launches its own wallet through Amazon Pay in India. Amazon India has invested about $20 million in Qwikcilver as a strategic investor.