Tue. Sep 27th, 2022
Amazon Makes Profits On The Back Of ATS And Amazon Pay

On a related note, Amazon’s payments business below Amazon Pay and its logistics arm, ATS (Amazon Transportation Service), have reported an elevation in income earlier, as per papers filed with the RoC (Registrar of Companies) claimed via a business research marketplace.

ATS filed an increase of almost 60% in income at Rs 991 Crore in current fiscal year. For Amazon Pay, the elevation was even more with the arm posting an income of Rs 4 Crore for the same fiscal as compared to a tiny base of Rs 28 Lakh last year.

In April 2017, the online behemoth got an acceptance from the RBI to start its personal e-wallet processes in India. Ever since then, it has been investing greatly into both the businesses since it seems to forcefully fight with its Indian competitor. Flipkart runs its payments business and logistics arm Ekart via PhonePe, which earlier got a commitment worth $500 Million from its parent firm.

Earlier, Amazon had invested almost Rs 610 Crore into Amazon Pay and almost Rs 730 Crore into ATS via various infusions. It had also commenced providing cash backs to persuade more customers for Amazon Pay. Earlier, ATS extended its logistics arm to vendors in the country by providing its offerings even for orders placed on rival marketplaces such as Snapdeal and Flipkart. Amazon has promised more than $5 Billion to its processes in India.

On a related note, a major outage seems to be impacting Amazon consumers this week, as per an online outage site. The company website displayed an error message for some consumers who attempted to make buyouts. Down Detector, which keeps an eye on outages, displayed widespread issues in New England and California. There was no answer from the firm on twitter about the severity of the outage.

By Cameron Bravo

Cameron Bravo was born and raised in the beautiful state of New Mexico. He has written for Buzz Feed and KMAX-TV, In regards to academics, Cameron earned an arts degree from the Sacramento State. Cameron covers local news and culture stories here at The Truth News.

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