Amazon has launched its financial service Pay Later in India. With this new service, Amazon customers will now be able to shop up to 60 thousand rupees with zero interest. After the launch of this service, in a way, customers will get online virtual credit, which will allow almost all the products listed on Amazon India to be purchased.
Amazon Pay Later will also be valid for credit grocery and utility bills. The special thing is that the payment of credit can be repaid next month at no extra charge. Apart from this, the option of 12 months EMI will also be available with customers. Customers will have to pay interest on EMI option but it can be discounted with Amazon’s no-cost EMI option.
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What is Amazon Pay Later?
Amazon Pay Later Company has a finance service that lends users to do online shopping. The company has been testing this service in the country for a long time, but now this service is available to thousands of customers of the company. Amazon’s pay Later service is similar to Flipkart’s pay later service. Under Flipkart’s pay letter service, you get a credit of up to Rs 5000 for 40 days at no extra charge. With Amazon Pay Later Service, customers can also pay utility bills like electricity, water, mobile bills every month.
Amazon Pay Later service can be borrowed from 1 to 60 thousand rupees. This has done under the guidelines of the Reserve Bank of India. As we said buy now, no interest is charged for this service which pays later. However, for the EMI option for 3 to 12 months, a very small charge will have to be paid. According to Amazon, while choosing the EMI plan, the information will be available on the payment page.
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How to take advantage of amazon pay letter service.
To take Amazon credit, one has to register with Amazon Pay Later Service. Currently, this service is available on mobile.
After this, you will be redirected to a landing partner’s page where you have to complete a one-time setup by entering Know Your Customer (KYC) details.
You can complete KYC via OTP or Doorstep visits. However, due to lockdown, it is not possible to complete KYC through doorstep visits.
After completion of KYC, customers can check the amazon pay Later registration status in amazon pay dashboard. It can also use to check transaction records.
Amazon Pay Later credit depends on a lot of factors. This includes your information and credit bureau history available with Amazon.
