Amazon as a Fintech player

Nishanthi, Professor,  SIMS

Amazon has become the innovation in e-commerce company, especially in India. They happen to be an innovation through technology and business models. The main idea behind their becoming innovation was just a single idea of changing the conservative Indian consumer and buyers to do shopping and purchase through online. Now what does Amazon is really focused upon!!. In recent times, apart from their investments in this e-commerce concept, they have diversified into online money lender thought capital float, which has specialized them in lending to small and medium scale businesses. Furthermore Amazon has extended to diversify itself into consumer loan lenders. Apart from these Amazon is laying the ground work to build a perfect eco system of the financial products around their digital payment which is well known as Amazon pay. In this regard Amazon has widened their payment mode range on Amazon pay by taking over upon Pay TM who is now seen as the market leader, and their partnership has typically about the customers, by making the customers to use their Amazon pay for buying pizza, booking a movie ticket and more. By keeping this as their core customer problem, Amazon has build up trust among all the customer and consumers for accepting Amazon pay. To put it across very simple Amazon is grapping the opportunity to transform the Indian’s payment habit. Amazon thus plays the perfect strategy towards lifting Fintech, which is going to be the next generation innovation.

This convincing power of Amazon has now hit thousands of merchants to accept Amazon pay. In short Amazon has sharpened its Fintech play which clearly shows that Amazon pay will soon become a much broader platform in the near future. It is more apt  to say that Amazon scratch the surface from one who is looking for a specialized startups who are ultimately favoring Amazon to figure out the way to build the right consumer solutions to the right person in terms of credit by making payment a simple and creating habits among customers to adopt e-commerce.

Amazon as a Fintech player

Amazon has become the innovation in e-commerce company, especially in India. They happen to be an innovation through technology and business models. The main idea behind their becoming innovation was just a single idea of changing the conservative Indian consumer and buyers to do shopping and purchase through online. Now what does Amazon is really focused upon!!. In recent times, apart from their investments in this e-commerce concept, they have diversified into online money lender thought capital float, which has specialized them in lending to small and medium scale businesses. Furthermore Amazon has extended to diversify itself into consumer loan lenders. Apart from these Amazon is laying the ground work to build a perfect eco system of the financial products around their digital payment which is well known as Amazon pay. In this regard Amazon has widened their payment mode range on Amazon pay by taking over upon Pay TM who is now seen as the market leader, and their partnership has typically about the customers, by making the customers to use their Amazon pay for buying pizza, booking a movie ticket and more. By keeping this as their core customer problem, Amazon has build up trust among all the customer and consumers for accepting Amazon pay. To put it across very simple Amazon is grapping the opportunity to transform the Indian’s payment habit. Amazon thus plays the perfect strategy towards lifting Fintech, which is going to be the next generation innovation.

This convincing power of Amazon has now hit thousands of merchants to accept Amazon pay. In short Amazon has sharpened its Fintech play which clearly shows that Amazon pay will soon become a much broader platform in the near future. It is more apt  to say that Amazon scratch the surface from one who is looking for a specialized startups who are ultimately favoring Amazon to figure out the way to build the right consumer solutions to the right person in terms of credit by making payment a simple and creating habits among customers to adopt e-commerce.