has acquired Noida-based online payment processor Emvantage for an undisclosed amount.

Post acquisition, Emvantage’s employees will be joining its payments team to develop India-specific payment products and solutions for both customers and e-commerce players in the country, Amazon said. While the terms of the acquisition were however not disclosed, the deal is expected to close in Q1 2016.

Amazon acquires Noida-based online payments processor EmvantageStarted in late 2012, Emvantage has developed a series of payment solutions including a web and mobile optimized payment gateways and mobile payment solutions like QR-code based solutions, NFC-based solutions mobile swiper solutions.

It has also developed prepaid wallets and prepaid card-based solutions, social payment solutions like Facebook buy button and campaign-based payment solutions among others.

Amazon, which counts India as of its key markets, had launched its online payment solution ‘Pay with Amazon’ for third party e-commerce players in October 2014.

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