NEW DELHI: Amazon Pay (India) saw its losses widen to Rs 1,868.5 crore in the financial year 2020 from Rs 1,160.8 crore in the fiscal ended March 2019, as per regulatory documents, PTI reported on Friday.
The company, which competes with players like Paytm, Flipkart’s PhonePe and Google Pay, saw its parent pumping in over Rs 2,700 crore investment in the financial year 2020.
Amazon Pay’s total revenue for fiscal 2020 grew over 64 per cent to Rs 1,370 crore over Rs 834.5 crore in fiscal 2019, according to Registrar of Companies filing - shared by market intelligence firm Tofler.
The filing pointed out that Amazon Pay India has received Rs 2,705 crore in the financial year 2020 from Amazon Corporate Holdings Private Limited and Amazon.com.incs Limited.
Amazon Pay India allotted shares to these entities worth Rs 450 crore in June, Rs 900 crore in October and Rs 1,355 crore in December 2019.