Amazon Pay Later service: Amazon India has started a new service under which users can pay for the items they purchased on the e-commerce platform later. Called “Pay Later”, Amazon has partnered with Capital Float and Karur Vysya Bank for the new credit service.
The service is a rebranded version of Amazon’s existing Pay EMI service. “Once the setup is complete, you can avail Amazon Pay Later payment option during checkout on Amazon.in and pay later next month or over EMIs ranging from 3 to 12 months. You can easily track your purchases, repayments, and limits history from a simplified dashboard for this payment mode,” according to Amazon’s FAQ.
The Amazon Pay Later service also offers the option to repay in a subsequent month at no additional fees or convert large ticket transactions into monthly installments for up to 12 months. With this new service, Amazon is aiming to enhance the purchasing power of Indian customers and let them easily extend their budgets while shopping online.
Amazon Pay Later currently has three, six, nine, and 12 months EMI options. In addition, customers have the option to pay next month. Customers can avail up to Rs 60,000 in credit depending upon eligibility. One can register for Amazon Pay Later through the official registration website. You will also need to complete the KYC process to get started.
Aside from providing credit on the products available on the marketplace, Amazon Pay Later can be used for paying monthly bills of utilities such as electricity or water or even for mobile bills and recharges. Customers can also use the service to purchase their groceries or other essential items on credit during the lockdown. As mentioned, Amazon Pay Later can be used for almost any product on Amazon, with some exceptions – these are cash equivalent products, such as jewelry, Amazon Pay Gift Card, Amazon Pay balance top-up, products from Amazon Global Store or out of the country or overseas merchants, or bullion (gold and silver).
“Your approved Amazon Pay Later limit will be displayed on this screen along with the loan agreement. Please read and accept the agreement to complete Amazon Pay Later registration. This sanctioned limit will become active within a few minutes of completing the registration,” Amazon added.
