Amazon Pay announces card-less EMI solution via Amazon Pay EMI facility
E-commerce giant Amazon has today announced the card-less EMIs for selected its customers. The Amazon Pay EMI offers instant credit options to those who may not afford to purchase high-value products on Amazon India.
By using the Amazon Pay EMI, customers can now fulfill their Amazon shopping aspirations during the upcoming festival season. Amazon Pay has partnered with Capital Float as its lending partner to enable Amazon Pay EMI facility for their customers.
The Amazon Pay EMI purchase is valid for up to Rs 60,000 which is divided into easy monthly installments at low-interest rates. You can register for the credit facility on the Amazon Pay homepage, and upon providing their PAN and KYC details (no uploads required), you will be able to receive credits of up to Rs 60,000.
For the interest and fees, the interest will be charged only when you make a purchase using this assigned credit limit. There are no processing fees or hidden charges for the same. The Amazon Pay EMI will allow you to set up auto repayments, track EMI order history, repayment history, and any pending dues via Amazon Pay page. It also includes a launch offer to avail No Cost EMIs on three and six months tenures.
Vikas Bansal, Director, Emerging Payments said,
“Amazon has always been focused on making shopping truly affordable for masses online. We are on a mission to enable credit access for every Amazon customer. Amazon Pay EMI is a hassle free way of availing instant credit for customers that currently don’t have access to credit. This product has been developed leveraging India Stack to make the process completely digital. After recent expansion of EMI on Debit cards, we are very excited to bring this facility ahead of festive season and being the most affordable destination for our customers.”
Talking about the launch, Capital float’s co-founders Gaurav Hinduja and Sashank Rishyasringa said,
“Partnering with Amazon, we have designed best in class experience for customers interested in availing financing options for the upcoming festive season shopping. The process to avail the Amazon Pay EMIs is very simple and we are confident a large set of new-to-credit customers will avail this option.”
Here’s how to get Amazon Pay EMI
Currently, this is an invite-only program, selected customers will have to complete a simple two-step registration process to get an assigned credit limit for Amazon Pay EMI. Check your Amazon Pay EMI invite from Amazon over the next few days.
Go to Amazon Pay EMI registration page on your Amazon mobile App and follow simple on-screen instructions. You will have to provide your PAN and KYC details to receive your credit limit.
Head to this link amazon.in/AmazonPayEMI for more details on Amazon Pay EMI.