{"id":338158,"date":"2017-04-12T19:32:39","date_gmt":"2017-04-12T11:32:39","guid":{"rendered":"http:\/\/techcrunch.com\/?p=1475865"},"modified":"2017-04-12T19:32:39","modified_gmt":"2017-04-12T11:32:39","slug":"amazon-gains-wallet-license-to-boost-its-business-in-india","status":"publish","type":"post","link":"https:\/\/people.utm.my\/asmawisham\/amazon-gains-wallet-license-to-boost-its-business-in-india\/","title":{"rendered":"Amazon gains wallet license to boost its business in India"},"content":{"rendered":"

<\/p>\n

Amazon has gained a wallet license in India, Medianama reports<\/a>, as part of a move that will allow the U.S. e-commerce giant to offer a paying experience with less friction in the country.<\/p>\n

Currently, Amazon customers must go through two-factor authentication processes for each purchase that they make. That\u2019s in accordance with national law.\u00a0A wallet license could change things but allowing customers to deploy\/top-up their wallet for future purchases, but it also give Amazon an effective channel for cashback offers, faster refunds and other incentives.<\/p>\n

Amazon, which has spent $5 billion to develop its India business<\/a>, used a 2014 investment in QwikCilver<\/a>\u00a0to enable gifting and giftcards using the startup\u2019s wallet license. Now,\u00a0some are speculating that the gifting\u00a0service \u2014 which was rebranded to Amazon Pay in December \u2014\u00a0is where Amazon\u2019s own license will be deployed.<\/p>\n

The license was awarded in March, but news of its existence comes today\u00a0just days after rival Flipkart, India\u2019s top homegrown e-commerce firm, refueled its tanks with a record $1.4 billion funding round<\/a> from China\u2019s Tencent, Microsoft and eBay.<\/p>\n

Featured Image: Jaap Arriens\/NurPhoto\/Getty Images<\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

\"\" Amazon has gained a wallet license in India, Medianama reports, as part of a move that will allow the U.S. e-commerce giant to offer a paying experience with less friction in the country. Currently, Amazon customers must go through two-factor authentication processes for each purchase that they make. That’s in accordance with national law.\u00a0A wallet license could change things but… Read More<\/a><\/p>\n

\n<\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a> <\/img><\/a>\n<\/div>\n

\"\"\/ <\/p>\n","protected":false},"author":5817,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[25],"tags":[59,66,26],"class_list":["post-338158","post","type-post","status-publish","format-standard","hentry","category-technology","tag-media","tag-techcrunch","tag-technology"],"_links":{"self":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/338158","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/users\/5817"}],"replies":[{"embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/comments?post=338158"}],"version-history":[{"count":0,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/posts\/338158\/revisions"}],"wp:attachment":[{"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/media?parent=338158"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/categories?post=338158"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/people.utm.my\/asmawisham\/wp-json\/wp\/v2\/tags?post=338158"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}