Amazon acquires Indian payments processor Emvantage

(Reuters) — Amazon.com said it has acquired Indian payments processor Emvantage Payments for an undisclosed sum.

Emvantage’s employees will join Amazon’s India unit that will use the company’s technology on its e-commerce website, Amazon said in a statement.

Amazon has been rapidly expanding into India’s fast growing e-commerce segment that is likely to grow to $220 billion by value of goods sold by 2025.

(Reporting by Himank Sharma; Editing by Sunil Nair)