Amazon to buy 49% stake in India's Future Coupons

Amazon has agreed to buy a 49% stake in Indian retail company Future Coupons.

Future Coupons, which is owned by retail chain Future Retail, said in a regulatory filing on Thursday that the stake comprises both voting and non-voting shares. In addition, Amazon has been granted a call option which would allow it to buy all of part of Future Coupons' shareholding in Future Retail. It won't be be excercisable until between three and 10 years.

An Amazon spokesperson told TechCrunch the investment would "enhance Amazon’s existing portfolio of investments in the payments landscape in India".

Future Coupons develops innovative value-added payment products and solutions such as corporate gift cards, loyalty cards, and reward cards primarily for corporate and institutional customers.