How to use Amazon Pay EMI and where to apply for the service?

Amazon had introduced the Amazon Pay EMI feature to enable its Indian mobile users to make purchases from the platform while allowing them to pay for their orders in easy monthly instalments. With the help of this service, users can avail instant credit via a digital process to purchase items on EMI without having to use a credit card.

The service has been powered by Capital Float and allows payments over EMIs ranging from one to nine months. It also allows you to keep a track of all your previous purchases, repayments, and other details from a simplified dashboard. 

Amazon has said that customers can avail credit within 60 seconds and that it does not involve any processing fees or hidden charges of any kind. However, users should note that this feature is currently applicable only on single item purchases that exceed ₹8,000 without any exchange offers.

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Amazon Pay EMI eligibility

To be eligible for the Amazon Pay EMI service, users will need an Amazon ID, a valid PAN or Aadhar card and an active bank account. The service is supported by a number of major banks such as Canara Bank, Citi Bank, HDFC Bank, ICICI Bank and Kotak Bank. However, one should also note that apart from the above-listed criteria, Amazon further ensures if the user is eligible for the EMI facility by checking their credit history.

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How to apply for Amazon Pay EMI?

You need to complete an easy one-time setup process to get started with Amazon Pay EMI. Once you have completed the setup, you should be able to get the ‘Amazon Pay EMI' payment option when you proceed to checkout on Amazon.in. So lets us take a look at how you can register for Amazon Pay EMI.

Step 1: Complete the KYC process by going to the ‘Amazon Pay EMI’ registration page on the Amazon mobile App. You will need to provide your PAN and other KYC details to sign up for the service and get a credit limit.

Step 2: Verify the OTP sent on the phone number.

Step 3: Once you see the approved Amazon Pay EMI limit on the screen, you need to click on the ‘Agree & Continue' option to complete the registration process. Your sanctioned limit is decided based on your credit score and takes a few minutes before activating.

Step 4: Choose the Auto-repayment option by selecting the debit cards from the banks listed on the app.

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How to use Amazon Pay EMI?

To make purchases using the Amazon Pay EMI facility, you need to check if the product you want to purchase is available on EMI. To do so, you simply need to click on the EMI options tab which is available on the product details page. If you don’t find the option, it means the product does not come with an EMI facility.

If the product offers an EMI option, you just need to add that product to your shopping cart and go to the EMI menu > Amazon Pay EMI during checkout. Here, the app will allow you to choose an EMI plan from the options available. Amazon may ask you to provide your debit card details here for EMI repayments if it’s your first purchase and you haven’t set up the auto repayment option.

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Image credits: Amazon Pay