Amazon acquires online payment service provider Emvantange

Q.  Which e-commerce major has indicated it will acquire online payment services company Emvatange Payments Private Limited for a non disclosed amount?
- Published on 17 Feb 16

a. Myntra
b. Baidu
c. Snapdeal
d. Amazon

ANSWER: Amazon
 
International e-commerce major Amazon is set to acquire online payment service provider Emvantage Payments Private Ltd for an undisclosed amount. Acquisition will enable Amazon to accelerate the development of healthy payment solutions for customers as well as e-commerce business in India. As part of this acquisition, Emvantage’s employees will join the Amazon payments team for development of innovative payment products and solutions for the Indian market.

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