6 years of Amazon Business: Amazon Business, the wholesale unit of e-commerce company Amazon in India, has announced its integration with instant credit service Amazon Pay Later for businesses to buy goods and pay later in the subsequent month of purchase at no additional fees or over EMIs from three to 12 months at nominal interest rates. The announcement was made commemorating the six years of Amazon Business in India launched in September 2017.
With the integration, customers can sign up for Pay Later and use the credit to make bill payments on Amazon., buy Amazon Pay corporate gift cards, travel, insurance, and more.
Suchit Subhas, Director, Amazon Business said, “We are grateful for the support we have received from our customers and selling partners in the past six years of our operations in India. Since our inception, we have always aimed to bring together the largest assortment of GST-enabled selections with competitive & transparent pricing, the widest delivery coverage and innovations in digital procurement to make buying simple and efficient for businesses. Keeping our customers at the forefront, we are happy to introduce Amazon Pay Later to provide them access to credit, thereby ensuring greater affordability for them.”
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Starting with 14,000 sellers in 2017, Amazon Business said it has more than 19 crore GST-enabled products from over 10 lakh sellers. It allows customers to claim GST credit on their billing address for their pan-India shipments. Last year, it had launched a mobile app to improve the procurement experience of business customers.
Amazon Business catered to more than 10 lakh businesses on Amazon. The platforms help businesses simplify GST credit on their billing address for Pan-India shipping. In early 2022, iOS and Android-based mobile apps were also launched to increase the accessibility of the platform.
According to the company, it has recorded a 150 per cent compound annual growth rate in its customer base and a 145 per cent increase in sales. Tier 2 and tier 3 cities have played a significant role in its growth, with 65 per cent of buying customers coming from smaller cities.