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Home >Technology >Tech-news >Here’s how to use Amazon Pay cardless EMI

Amazon India has launched a new cardless credit facility via Amazon Pay. The new cardless credit facility offers an EMI of up to 60,000 over a period ranging from 3 to 12 months for any purchase made through Amazon.in. Customers do not require a credit card to avail this facility. Aadhaar number, Voter ID or PAN number is required to avail the cardless EMI.

Amazon has made this feature available only on the mobile app and there’s no word about its release for the desktop site.

The e-commerce giant claims that users can get credit within 60 seconds and there are no processing fees or hidden charges of any kind.

However, the feature is applicable only on single item purchases of over 8,000 without an exchange offer.

To be eligible for this facility, a customer needs an Amazon ID, a valid Aadhar or PAN card and a bank account. Banks currently supporting this facility include Canara Bank, Citi Bank, HDFC Bank, ICICI Bank and Kotak Bank.

Amazon will further ensure whether the user is eligible or not by referring to details of his Amazon ID and credit history available with the bank. Customer’s credit limit will be decided by the lending partner.

To register for Amazon Pay EMI, you can follow these steps:

— Open the Amazon App

— Tap on Amazon Pay EMI > Register

— Fill in your Aadhaar or PAN Card details

— Verify the OTP sent on the mobile number registered with your Aadhaar Card

— Now you will able to view the approved limit with the loan agreement

— Choose the auto-repayment option by selecting the debit cards from banks mentioned by Amazon

— You will now be charged for an amount of up to 5 to verify your details. This amount will be refunded to you in 3-5 business days

To purchase using the Amazon Pay EMI facility, make sure the product is available on EMI. You can do this by clicking on the EMI options tab on the product details page. If the option doesn’t exist, then you won’t be able to buy the product on EMI.

If the option is available, add the product to cart and while checking out select the EMI menu>Amazon Pay EMI. You will now be able to choose an EMI plan from a list of options. You might be prompted to link your debit card for EMI repayments during your first purchase if you haven’t setup the auto repayment option during registration.

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