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On Monday, Amazon Pay said that it will enter person-to-person (P2P) payments for its Android users, enabling its users to do instant bank-to-bank transfers through the Unified Payments Interface (UPI) platform on the Amazon app.
Users can use this feature to pay bills with friends, pay rents, lend and return money to family, pay for services- house help, newspaper bills, milk subscription, etc. In addition to this, they can make payments via their bank account to local stores nearby or Amazon delivery associate by scanning UPI QR codes using the Amazon pay platform.
With the P2P payments, customers can send or receive payments by choosing a contact from their phone contact or by entering UPI ID or bank account of the recipient.
Vikas Bansal, Director at Amazon Pay, stated,
“Our goal is to make Amazon Pay the most trusted, convenient, and rewarding way to pay for our customers. The customers trust their Amazon app, and we continue to expand payment use cases directly on the app. With this launch, we have the largest selection of shopping and payment use cases on the Amazon Android app, which provides added convenience and control to our customers.”
Process of Amazon pay P2P.
Amazon Pay allows users to auto-detect whether the contact is a registered Amazon Pay UPI customer, and provides the bank-to-bank transfer. If not the customer has the option to pay using any another BHIM UPI ID or contact’s bank account.
Both the customer and receiver get SMS alerts, and in-app notifications after the money get transferred.