Today In Payments Around The World: Amazon Invests In India Unit; Russia-Based eCommerce Firm Ozon Gears Up For IPO

In today’s top news in payments around the world, Amazon reportedly infused $152 million into its India Amazon Seller Services unit, while Russia-based online shopping firm Ozon is reportedly getting ready to file for an initial public offering (IPO). Plus, Mitek and Digidentity have teamed to help more people register on GOV.UK Verify.

Amazon Pours Millions Into India Unit

Amazon recently reportedly put $152 million into its Amazon Seller Services division in India. The unit assists companies in harnessing Amazon to sell merchandise. Its funding occurs as the country gears up for its busy festival season. The new funding reportedly comes from Amazon.com Inc. of Mauritius and Amazon Corporate Holdings Pvt. Ltd. of Singapore.

Russian eTailer Ozon Seeks US IPO

Ozon is reportedly getting ready to file for an initial public offering (IPO) in the U.S. that is said to be slated to occur later in 2020 or early next year. The firm could have a valuation of $3 billion to $5 billion and was supported by the shift to online shopping triggered by COVID. Sales increased nearly 200 percent in Q2 as Russians used it to purchase everyday products such as food.

Mitek, Digidentity To Help Speed Up GOV.UK Onboarding

Mitek and Digidentity have joined forces to help more individuals register on GOV.UK Verify faster. The two firms have allowed for a processing speed of over 400 applicants each minute to the service, which offers residents and nationals access to pivotal government services during COVID-19. Different layers of security are involved on the user’s side, including taking a selfie and scanning one’s identification.

European Central Bank Outlines Use Cases For Digital Euro

Europe should be ready to embrace a digital Euro so residents can access funds in the changing retail landscape. That was the message of the European Central Bank (ECB). “Our role is to secure trust in money. This means making sure the euro is fit for the digital age. We should be prepared to issue a digital euro, should the need arise,” ECB President Christine Lagarde said in a statement, as per a published report.