India’s central bank slaps penalty on Amazon’s payments unit

India’s central bank has slapped Amazon Pay’s India unit with a fine of over $373,300 for non-compliance with local guidelines surrounding know your customer and prepaid payment instruments norms. The Reserve Bank of India said in a statement (PDF) that Amazon Pay (India) was non-compliant with certain provisions of the guidelines on prepaid payment instruments […] India’s central bank slaps penalty on Amazon’s payments unit by Manish Singh originally published on TechCrunch...