February 16, 2016 / 1:04 PM / in 2 years

Amazon acquires Indian payments processor Emvantage

MUMBAI (Reuters) - Amazon.com Inc (AMZN.O) said it has acquired Indian payments processor Emvantage Payments Pvt Ltd for an undisclosed sum.

Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, January 29, 2016. REUTERS/Mike Segar

    Emvantage’s employees will join Amazon’s India unit that will use the company’s technology on its e-commerce website, Amazon said in a statement.

    Amazon has been rapidly expanding into India’s fast growing e-commerce segment that is likely to grow to $220 billion by value of goods sold by 2025.

    Reporting by Himank Sharma; Editing by Sunil Nair

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