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.
Started 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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