Amazon Pay UPI usage grows 16% YoY amid festive sales
Amazon introduced its "Bumper Rewards" programme to capitalise on the festive sales momentum, offering customers rewards of up to Rs 10,000 for completing UPI transactions.
Amazon Pay UPI usage experienced a 16% year-on-year growth during the first 48 hours of the Amazon Great Indian Festival 2024.
To capitalise on this momentum, Amazon introduced its "Bumper Rewards" programme, offering customers rewards of up to Rs 10,000 for completing UPI transactions.
The initiative encourages users to make payments both on and off Amazon.in, rewarding them after their 1st, 5th, 10th, and 15th transactions across various services like bill payments, ticket bookings, and scan-and-pay options.
"This festive season, every A.in shopper can unlock rewards with Amazon Pay, both on and off our shopping app," Girish Krishnan, Director - Payments and Merchant Services, Amazon Pay, said.
Over 100 million UPI users have signed up on Amazon Pay since its its launch in 2019. Amazon Pay is among the top 10 most used unified payments methods in India, sitting at the 7th position behind Axis Bank apps. The payments arm processed transactions worth Rs 7,845.04 crore in September 2024, according to NPCI UPI ecosystem data.
Since launching Amazon Pay UPI in 2019, the company has added features like bill payments, utility payments, and bookings for travel and entertainment, which have become significant revenue sources.
Edited by Jyoti Narayan