Covid19 Tech Impact
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In a bid to support its partner small and medium businesses (SMBs), ecommerce giant Amazon has set up a new relief endowment, Partner Support Fund.
The company’s fund for SMBs in logistics will be allocated to delivery service partners (DSPs) and select transportation partners in India to allow them to revamp their business model to fit the upcoming trends in the post-Covid-19 world.
Amazon is also looking to provide financial aid to approximately 40K of its staff in April. Additionally, the fund will also help in covering some critical fixed infrastructure costs and support liquidity and cash flow for these small businesses, especially when they resume and scale their operations post-lockdown.
Akhil Saxena, VP of Customer Fulfilment Operations for APAC, MENA & LATAM regions at Amazon, said, “Amazon is committed to keeping India safe by delivering essentials to customers at their doorstep. We are equally invested in helping our partners overcome the unforeseen disruption in business.”
“Our commitment to partners and to India is for the long-term, and this fund, in addition to other measures, aims to support SMBs overcome the situation with relative ease,” he added.
What Else Does Amazon Have On Its Plate?
Recently, Amazon had also set up an Amazon Relief Fund (ARF) worth $25 Mn for qualified individuals quarantined or tested positive for Covid-19 across the country. It has now transferred the fund to eligible delivery associates, who are part of the Delivery Service Partner Program, Amazon Flex program and its trucking partners providing transportation support.
Meanwhile, the company is also ensuring the safety of its partners who are currently on duty. “Amazon India has begun temperature checks in buildings, has increased the frequency and intensity of cleaning at all sites, adjusted practices so that teams can adhere to social distancing whether at site or while even making deliveries to customers.” the company added in a press release.
Besides this, Amazon India has also contributed to the PM CARES Fund through its digital payments arm Amazon Pay. Last month, the company had announced that it will make an additional donation of 10% on all the amount donated to the PM CARES Fund or its partner NGOs through its platform.
For customers, the company has expanded its Pay Later credit offerings. Now, customers can buy essential products or pay bills on credit. They can also avail credit lines of up to INR 15K, which can be paid after 45 days of availing the loan. Amazon Pay has partnered with lenders such as Capital Float and Karur Vysya Bank.