Until last week, all major ecommerce players likePaytm,SnapdealandFlipkarthad their own digital wallets except Amazon India. Althoughlatest news report suggeststhat this status is all set to change as the US-based etailer is planning to launch an online payment wallet soon.
Acquisitions of wallet firms on the horizon
The news about Amazon’s plan comes just days after the ‘Flipkart Money’announcement. The company is looking to achieve this goal by acquiring wallet companies, just likeSnapdeal-FreechargeandFlipkart-FX Mart.
A source close to the developmentrevealed, “looking at multiple acquisitions (in online payments). It is a major focus area and the company is trying to figure out what it needs to do.”
Talks with several online payment firms are on and it is believed that Amazon India’s wallet will come into existence after three months.
In February, Amazon had made it apparent that localized India-specific payment solutions feature in the company’s business goals and for the same itacquired Emvantage, a payment gateway company.
Localizing Amazon App bearing fruit
‘Localization’ is the keyword that Amazon’s team is focusing on to win Indian ecommerce market. Be it adoptinglocal lingoin advertisements, thinking aboutpayment solutionssuited for Indian buyers or introducingtatkal sellerservice, the ecommerce leader swears by localized marketing strategy.
One such strategy that’s bearing fruit is customizing technology operations of Amazon App and introducing new features tailor-made for Indian shoppers. The company has given engineers full freedom & resources to modify its app and features.
Some of the key changes that were made to the Amazon App are:
Reduced app size by more than 60%
Enabled near-automated sign-ups for first-time mobile users
Simplified online payment process
New & improved daily deals and offers
Removed features that weren’t working
Akshay Sahi, Amazon India’s Customer Experience Headshared, “We realized that our (previous) deals pages aren’t going to work in India, so we took over the deals pages and redesigned it completely, including some of the underlying technologies.”
Headded, “In three months, we cut out the features that weren’t working, removed the bloat, cleaned the tech up and brought down the (weight of the app) to less than 9MB from more than 22MB. We are at 9.8MB right now.”
Result? Amazon India’s app downloads, user addition and retention rates scaled up. By simplifying the signing-up, payment process along with reducing app size, Amazon managed to reach out to a large number of buyers who had resisted downloading an app so far. Smart move by Amazon, as the share of Indianm-commerce is only going to increasewith time.