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Amazon Pay partners Kuvera to offer wealth management services

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© Priyanka Sahay Amazon Pay partners Kuvera to offer wealth management services

Amazon has joined hands with Kuvera to offer wealth management services in India through its digital payment platform Amazon Pay.

Investment platform Kuvera will provide services, products and technology know how to create an exclusive experience for Amazon Pay’s users to facilitate investments into Mutual Funds, Fixed Deposits, and more over time.

“We have built the most feature rich and transformative investing platform with a history of firsts for investors. Through this arrangement

with Amazon Pay India, we seek to add value to the investors journey,” Gaurav Rastogi, Founder & CEO, said. He added that the goal is democratisation of investing and wealth management in India.”

At 600 million users and growing, India is the second largest internet market globally. However only 30 – 40 million users have access to quality investment products.

With more than 1 million users and Rs 28,000 crores in assets under Advice, Kuvera has maintained a scorching pace of growth since starting in 2017.

“At Amazon Pay, our vision is to simplify lives and fulfil aspirations by solving payment and financial needs of every Indian. For our most

engaged customers, growing their wealth and investments is a large need, here is where, we think Kuvera can help our customers with their unique offering,” Vikas Bansal, Director Amazon Pay India said.

This comes after Google’s partnership with Setu, which specialises in API development to allow its customers to book FDs (Fixed Deposits) via Google Pay.

As per media reports, the beta version of this API, which is already in testing and will facilitate booking FDs, will offer various time durations, starting from 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days, and a year, among others.