In January, the entity had received Rs 1,355 crore from its US-based parent.
Amazon has infused a fresh Rs 700 crore into its India payments entity, according to regulatory filings sourced from business intelligence platform Tofler.
This is the second investment by the e-commerce major in Amazon Pay (India) this calendar year, taking the total capital infusion to over Rs 2,000 crore. In January, the entity had received Rs 1,355 crore from its US-based parent.
The investment gains significance at a time when incumbents in the payments space are going all out to woo the small merchant, and the environment is becoming increasingly competitive. Paytm has set itself a target of 25 million merchants for FY21, while Google Pay last year said it is targeting over 200 million offline merchants.
To this end, both players, as also Walmart/Flipkart-owned PhonePe, have over the last couple of years been working to build a presence at every storefront across the country.
The latest investment has been routed via Amazon Corporate Holdings and Amazon.com, the filings showed.
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