Amazon Now Crosses $1 Billion in Quick Commerce Sales as Government Clarifies UPI Charges
· Business · Economic Times, Bloomberg
Amazon's quick commerce arm, Amazon Now, has crossed an annualized sales run rate of $1 billion across more than 60 cities, India head Samir Kumar announced. The platform aims to expand to 100 cities and operate 1,000 dark stores by the end of the year. In a separate regulatory update, the Indian government clarified that banks and payment providers cannot levy charges on UPI transactions of up to Rs 2,000 or on RuPay debit card payments. The Finance Ministry issued the notification under the Payment and Settlement Systems Act, 2007. This follows parliamentary amendments that granted the Centre authority to permit digital payment charges.
Why it matters
The rapid expansion of quick commerce intensifies competition in India's delivery sector, while the UPI fee clarification protects consumers from extra transaction costs.
Read the original report — Economic Times
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