Growth market: The logo of Amazon is pictured inside the company’s office in Bengaluru. In India, Amazon is better placed to use financial services to win subscribers to its annual US$13 Prime plan which offers faster shipping and music and video streaming. — Reuters
NEW DELHI: Amazon.com Inc has added insurance and even gold to its menu of financial services in India, to expand its customer base and attract more subscribers to its Prime loyalty programme in a battleground growth market.
The push ramps up competition as financial technology (fin-tech) rivals and their deep-pocketed foreign backers struggle for profitability in a predominantly cash-based economy where about 190 million adults do not have bank accounts.
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