Amazon eyes 9.9 per cent stake in Reliance retail

Amazon wants a preferred, strategic stake in Reliance Retail for JioMart, according to tweets.

 JioMart, the e-commerce venture of Reliance’s retail arm, was launched in May and poses a formidable challenge to Amazon. com’s local unit and Walmart Inc’s Flipkart.

 Earlier this year, Amazon India launched a programme to add small local shops on its platform after the country went into a lockdown to curb the spread of the coronavirus outbreak.

 Amazon Pay said it has tied up with Acko General Insurance Ltd to offer two- and four-wheeler insurance policies in India. Amazon Pay, the payments unit of Amazon India, will help customers purchase insurance, and its ‘Prime’ members to get extra benefits including additional discounts, a statement said.

 Customers can buy auto insurance from Amazon Pay page, Amazon app or mobile website and they can get a quote for their car or bike’s insurance by providing basic details, it said.

 In this quick paperless insurance plan, customers can get hassle-free claims with zero paperwork, one-hour pick-up, and three-day assured claim servicing and one-year repair warranty in select cities.

 Policyholders will also have an option for instant cash settlements for low value claims, making it beneficial for customers. Customers can also select from a list of add-ons like zero-depreciation and they will be able to use Amazon Pay among others.