SBI and Amazon to drive adoption of e and m commerce

NEW DELHI, INDIA: SBI and Amazon.in has signed a Memorandum of Understanding, identifying areas of cooperation to build a digital India which meets the aspirations of the next generation of customers and small businesses.

SBI and Amazon.in will develop trusted and frictionless payments and commerce solutions for customers and small businesses, capitalizing on the exponential growth in internet penetration to drive the adoption of e-commerce and m-commerce in India.

Arundhati Bhattacharya, chairman, SBI said, “As the premier Bank of the country, we are always exploring ways to fulfill the aspirations of our millions of customers. Our partnership with E-Commerce platforms like Amazon would give a fillip to e-commerce in India and brings lots of value to our retail and SME customers. We are working on ways to enrich customers’ payment experience and opening up the windows of e-commerce to our SME customers. E-commerce as an industry is at inflection point and SBI stands with all the stake holders – the retail customers, the SME clientele, the large logistics companies, others - in facilitating this defining change”.

Amit Agarwal, vice president and country manager, Amazon India, said, “It is still Day 1 for ecommerce in India. Amazon is committed to investing for the long term to transform the way India shops and sells, and provide customers across India with the most trusted and convenient access to the largest selection of products at great prices. Likewise, India is a land of entrepreneurs and e commence has the potential to transform the livelihoods of millions of small businesses by helping them sell nationally and globally. In SBI, we have a fantastic partner whom customers and businesses trust through long-standing relationships, sometimes over generations. Moreover, SBI shares Amazon’s philosophy of building customer trust and investing for the long term. We have a great opportunity to work together to transform how India shops and sells.”