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E-wallet license in India strengthens Amazon's hand against Flipkart, Alibaba

MUMBAI (Nikkei Markets) -- Amazon's license to launch a digital wallet in India levels its playing field with domestic rival Flipkart and with Paytm, backed by Alibaba Group Holding, as the three scramble to expand their influence by offering more services.

Announcing that the company had received a "prepaid instrument license" from the Reserve Bank of India, Sriram Jagannathan, vice president for payments at Amazon India, said late last week that the focus was to provide customers "a convenient and trusted cashless payments experience."

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