Amazon India’s payments unit gets $95.5 million from parent ahead of festive season

FILE PHOTO: The logo of Amazon is pictured inside the company’s office in Bengaluru, India, April 20, 2018. REUTERS/Abhishek N. Chinnappa

BENGALURU (Reuters) – Amazon.com Inc AMZN.O has invested 7 billion rupees ($95.51 million) in its Indian payments unit, ahead of the festive season, data from business intelligence firm Tofler showed.

Amazon will begin its festive season sales on Oct. 17, and has been trying to encourage payments through Amazon Pay with cashbacks and other rewards.

Both Amazon and Flipkart offer deep discounts on everything from clothes, smartphones to home appliances ahead of key Hindu festivals Dussehra and Diwali.

In July, Jeff Bezos-led Amazon.com had invested 23.10 billion rupees in Amazon Seller Services and early this year announced a $1 billion investment to bring more than 10 million small businesses online in India by 2025.

Amazon, billionaire Mukesh Ambani-led Reliance Industries RELI.NS and Walmart Inc’s WMT.N Flipkart are in a

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Realme targets up to 25% share of India’s smartphone sales during festive season

NEW DELHI :
Chinese smartphone company Realme is targeting 20-25% share of smartphone sales in India during the festive season with its expansive lineup of products, a top company official said.

The company, which competes aggressively against players like Xiaomi and Samsung in the Indian market, said India will continue to be a critical growth driver for Realme and will be a “top priority” globally.

“Smartphones have become the focal point to stay connected in the era of social distancing and remote working. Many consumers make their purchases towards the festive season as you get good deals on electronics… the market has started to warm up for the upcoming festive season,” Realme India Chief Executive Officer Madhav Sheth told PTI.

He added that versatile products with best-in-segment features across different price points – from entry to mid-range – will stimulate purchasing among different sections of the consumers.

“We are eagerly

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