The battle for ecommerce dominance is now becoming even more intense, as partnerships are being formed, and new, fresh capital being infused.
To take on the challenge of Amazon, Walmart has now partnered with Microsoft for empowering them with AI and Cloud technologies.
Meanwhile closer home, Amazon has pumped in Rs 230 crore into Amazon Pay, their digital wallet to challenge Paytm and PhonePe, owned by Flipkart.
Who will emerge the victor here?
Amazon Pay Gets Rs 230 Crore Funding!
Parent company Amazon has decided to take the digital wallet battle to the next level in India.
Their home-grown wallet Amazon Pay has just been infused with Rs 230 crore.
This will help Amazon Pay to compete against Paytm, which is India’s #1 mobile wallet, and fast growing UPI based digital wallet PhonePe, which is Flipkart’s own wallet.
An Amazon representative has confirmed the development, and said that the new funding will be used to introduce newer features and services for Amazon Pay users.
The spokesperson said, “We have earlier invested in creating new transformational services like cash loading into the wallet at doorstep,”
Besides, Amazon has expressed their firm determination to implement PM Modi’s vision of a cashless India, Digital India, and according to them, Amazon Pay will help them with this mission.
Here is a breakdown of investments and fundings made into Amazon Pay since last one year:
Rs 67 Crore: May, 2017
Rs 130 Crore: July, 2017
Rs 195 Crore: March, 2018
Rs 230 Crore: July, 2018
Total Funding received: Rs 622 Crore.
Should Paytm and PhonePe feel threatened?
Walmart, Microsoft Join Forces To Defeat Amazon!
Meanwhile on a global scale, Microsoft has decided to team up with Microsoft, and together challenge the dominance of Amazon.
Recently, Amazon took over 50% of American online retail, and defeated eBay, Walmart, Target and other retailers, e-Marketplace with a massive margin.
Jeff Bezos is now the richest digital entrepreneur ever.
In lieu of these developments, Walmart had to take some action to counter the rise of Amazon. In India, they have already acquired Flipkart to challenge Amazon.
Under the new partnership between Walmart and Microsoft, the later will provide Walmart with Cloud technological solutions, Artificial Intelligence and other technological breakthroughs.
Amazon is World’s second largest provider of Cloud servers, and it was pretty obvious that Walmart can’t partner with them for using Cloud.
Now, it would be interesting to observe how this partnership helps Walmart to challenge Amazon.
We will keep you updated.