E-Commerce Giant Amazon to Launch in India
Amazon has launched its Amazon Marketplace in India. Third-party sellers will be able to list their products on Amazon and use Amazon’s fulfillment programs. Amazon India will begin to offer only books, movies, TV shows, and video products, but more product categories will be introduced soon.
Amazon is looking to increase its number of third-party sellers, which has hovered around 2 million. India could potentially provide a huge market for both Amazon and electronic payments. Offering both Cash on Delivery (COD) and electronic payment methods, the e-commerce giant understands India’s preference for COD.
India has a large population of mobile phone subscribers at 900 million, but just 40% have access to banks. Mobile payments have become popular thanks to the National Payments Corporation of India’s Immediate Payment System, where users can check their balances and pay others through their linked bank accounts, and Amazon’s presence may serve as a major push for mobile payment systems adoption, and mobile commerce.