Amazon Pay claims 5 Mn SMB sign-ups, plans further penetration with $250 Mn fund
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Ecommerce giant Amazon said that it has registered 5 Mn merchants on its digital payments app, Amazon Pay, since 2019. The company elaborated that these merchants, who only transacted in cash earlier, have now started accepting payments from their customers using Amazon Pay’s QR Code system. Of these 5 Mn merchants, 2.5 Mn are businesses in retail and shipping such as kirana stores, about 1 Mn businesses operate food and beverage outlets