SBI and Amazon announce a strategic partnership to transform how India shops and sells
Mumbai, May 20, 2015: SBI and Amazon today 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 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.
Commenting on the occasion, Ms. 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”.
Commenting on the occasion, Mr. 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.”
All Consumers on www.amazon.in and the Amazon mobile shopping app have an easy and convenient access to over 22 million products across hundreds of categories. They benefit from a safe and secure ordering experience, convenient electronic payments, Cash on Delivery, Amazon’s 24x7 customer service support, and a globally recognized and comprehensive 100% purchase protection provided by Amazon’s A-to-Z Guarantee. They can also enjoy Amazon.in’s guaranteed next-day, two day delivery and the just launched Sunday delivery on products fulfilled by Amazon.
The Amazon.in marketplace is operated by Amazon Seller Services Private Ltd, an affiliate of Amazon.com, Inc. (NASDAQ: AMZN). Amazon.in seeks to build the most customer-centric online destination for customers to find and discover virtually anything they want to buy online by giving them more of what they want – vast selection, low prices, fast and reliable delivery, and a trusted and convenient experience; and provide sellers with a world-class e-commerce platform.
Amazon.com opened on the World Wide Web in July 1995. The company is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire phone, Fire tablets, and Fire TV are some of the products and services pioneered by Amazon.