Amazon Pay, the digital payments arm of Amazon, reported a 33% increase in net loss for the financial year ended March 2026, with losses rising to Rs 1,148.5 crore from Rs 865.7 crore the previous year. This came despite an 18% growth in revenue, which reached Rs 2,484.4 crore, according to standalone financial statements filed with the Registrar of Companies (medianama.com).
The widening losses occurred amid intense competition in the UPI payments market from players like Navi, Flipkart’s super.money, and WhatsApp, which have consistently recorded higher monthly transactions than Amazon Pay in recent months. Amazon Pay offers payment processing, a semi-closed wallet, and Buy Now Pay Later services through partnerships with Axio and ICICI Bank. The company acquired Axio last year in a $200 million deal, adding a non-banking financial company license to its portfolio.
Amazon Pay’s revenue streams include peer-to-peer UPI payments, credit and debit card bill settlements, and bookings for movies, flights, and hotels via partnerships with BookMyShow and MakeMyTrip. It also distributes vehicle and health insurance products in collaboration with insurers such as ACKO and HDFC ERGO. Despite these diversified offerings, the fintech arm has struggled to keep pace with competitors in transaction volumes and profitability.
Amazon Pay’s standalone financial statements for FY26 highlight the challenges in balancing growth with profitability in India’s competitive digital payments sector. The company’s next financial update will be closely watched to assess whether it can narrow losses while maintaining revenue momentum.