In 2024, the platform saw a 40% increase in gift card purchases during the Amazon Great Indian Festival compared to 2023
Bengaluru: Amazon Pay, the online payments processing service by Amazon, has delivered over a billion gift cards to Indian customers since its launch in the country in 2014, according to a company press release on Friday.
In 2024, Amazon Pay saw a 40% increase in gift card purchases during the Amazon Great Indian Festival compared to 2023.
Issued by Pine Labs under the Qwikcilver brand and co-branded with Amazon Pay India Pvt. Ltd., Amazon Pay Gift Cards have experienced double-digit year-on-year growth since fiscal year (FY) 2014.
“With over a billion gift cards delivered, millions of customers shared the joy of gifting in a simple and meaningful way,” said Neha Gupta Mahatme, Director – Stored Value and Gifting, Amazon Pay. “As we celebrate this milestone, we remain focused on continuously improving and providing gifting solutions that truly meet the needs and preferences of our customers.”
Amazon Pay now offers a range of gift card options, including Amazon Shopping Vouchers, Amazon Fresh Vouchers, Amazon Prime Vouchers, and Amazon Gold Vouchers.
The platform has also launched gaming gift cards for services like the Apple App Store, Valorant, Unipin, Steam, and PlayStation, resulting in a 10% boost in monthly sales compared to Amazon Pay‘s existing gift card offerings.
“Our decade-long partnership with Amazon Pay has been instrumental in reshaping the gift card experience in India, combining Pine Labs’ tech expertise with Amazon Pay’s reach and brand loyalty,” said Navin Chandani, President – Issuing Business, Global at Pine Labs. “Together, we’ve introduced a robust, scalable gift card solution that caters to millions of customers and continues to drive significant value across demographics.”
At Present, Amazon Pay provides a wide choice of payment methods like Amazon Pay UPI, Amazon Pay Balance, Amazon Pay Later, and Amazon Pay ICICI Bank Credit Card.
