In a bid to strengthen its payments offerings in the country, Amazon Pay has acquired ‘all-in-one app’ Tapzo, reports the Economic Times. Amazon reportedly paid $30-45 million in a cash-and-stock deal for the startup that aggregates around 40 apps into a single app. Tapzo’s cofounders Ankur Singla and Vishal Pal Chaudhary will join Amazon Pay following the acquisition, according to the report.
MediaNama reached out to both the companies for a comment. While Tapzo didn’t respond to an emailed query, an Amazon spokesperson said, “Our commitment to the vision of a less-cash India remains the same. Our goal is to make it easier than ever before for customers to make digital payments by improving the customer experience, affordability and daily routines.”
Amazon will hope that these efforts will help the company to ward off competition against the likes of Paytm, Google Tez, Flipkart backed PhonePe and others. This week, Paytm, the country’s largest digital payment company secured an undisclosed investment from Berkshire Hathaway, while Google announced that it would rebrand its UPI payment app Tez to Google Pay, bundled with additional features.