B2B Payments

Amazon Rides India’s B2B eCommerce Wave

India’s buyers and suppliers now have yet another major online marketplace to conduct their business. According to reports on Tuesday (April 21), Amazon is the latest digital commerce conglomerate to launch B2B eCommerce services in the nation with the launch of Amazonbusiness.in.

The site serves companies within Bengaluru to quickly procure supplies and goods in bulk for their businesses, all offered at wholesale prices, reports said. The website is targeting SMEs including small offices, drugstores, restaurants, hotels and hospitals.

“With Amazonbusiness.in, businesses now have an opportunity to unlock their working capital as they no longer need to face issues like inconsistent stock availability and long vendor lead times,” Amazon said in a statement, which added that businesses can expect one- or two-day delivery, competitive prices, and access to invoices through their CAT and CST identification numbers.

Reports said that the site will carry office supplies, kitchen and dining items, cleaning supplies, and other products for the health care and food industries. The company said it plans to expand its product offering, though reports did not indicate whether Amazon also plans to expand the service to other areas of India.

The website’s rollout follows last year’s reports that Amazon’s B2B unit AmazonSupply would start to explore the market in India. Touted as a “top secret” project, operations AmazonSupply in India were said to be planning an early-2015 launch, according to an unnamed source at the time.

Amazon is the latest company to take part in a recent push to launch online B2B commerce efforts in the nation. Walmart has made headlines this year for its own online supply marketplace to ensure its locations in the nation remain stocked with inventory. Staples, too, has opened its own online B2B store in India earlier this month for office supplies.

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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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