Amazon

Amazon Unseats Flipkart As India’s Most Visited eCommerce Site

It took about two years, but Amazon has managed to claim the throne in Indian eCommerce — for now.

Amazon.in has become the most visited eCommerce site in India, an occasion Amazon is celebrating with a free gift voucher worth Rs 200 for any customer who makes a purchase of Rs 500 (or more) today (Dec. 14).

“We have built a vibrant marketplace with tens of thousands of sellers offering everyday low prices on India’s largest selection of over 30 million products and bringing alive our promise to the customers. We will keep growing our investments in India and continue to work hard for our Indian sellers and customers,” Amazon CEO Jeff Bezos noted in a released statement.

The big news for Amazon comes just following a report highlighting just how lucrative an opportunity Indian eCommerce might shape up to be. According to the Boston Consulting Group, the eCommerce industry in India is expected to touch $60 billion-70 billion (roughly Rs. 3,99,360 crores – Rs. 4,65,920 crores) by 2019, up from $17 billion in 2014.

Amazon also reported a 7 percent uptick in sales via its mobile app in India — and a 30 million visitor uptick to its desktop site.

Flipkart has also been strenuously working to push its customers onto mobile, in some cases even forcing customers away from their desktop site and onto their mobile product —  a controversial move that was  later taken-back (more or less).

Last year, Amazon had announced an investment of $2 billion to expand its operations in India. The global eCommerce giant also recently committed to re-upping those investments in what they consider a key emerging marketplace.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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