Amazon.com Inc. has infused Rs 1,000 crore into Amazon Pay, the digital payments and financial services unit in India, as competition intensified amongst players like paytm, Google Pay and PhonePe.

Singapore-based Amazon Corporate Holdings Pvt. Ltd pumped in Rs 999.90 crore while Mauritius-based Amazon.com Inc. Ltd infused another Rs 9.99 lakh into the payments unit, according to regulatory filings with the corporate affairs ministry and accessed by business intelligence platform Tofler.

Amazon Corporate Holdings received 999 million shares and Amazon.com another 99,920 shares at a nominal value of Rs 10 per share.

In April, Amazon Pay had received an infusion of Rs 225 crore.

In a separate filing, Amazon Pay reported loss of Rs 1,516.4  crore in FY21, narrowing from Rs 1,868.5 crore in the year-ago period.

The company’s total income rose to Rs 1,782.6 crore in FY21, up from Rs 1,370 crore a year ago.

Total expenses for the company marginally decreased year-on-year to Rs 3,285 crore in FY21.

Amazon Pay has ramped up its presence in the financial services space in the last few years. It offers car and bike insurance, digital gold as well as a digital credit card in partnership with ICICI Bank.

Amazon Pay India received over Rs 925 crore in FY21 from Amazon Corporate Holdings and Amazon.com.

Amazon Pay India allotted shares to these two entities worth Rs 700.1 crore in September 2020 and Rs 225 crore in March 2021

The two entities had infused Rs 2,705 crore into Amazon Pay in FY20.