Amazon Pay Later: Buy Now, Pay in Installments (100% Secure)

Introduction and Overview: Amazon Pay Later

Amazon Pay Later is a financial service offered by Amazon that allows customers to make purchases on the platform and pay later in installments. It is an option to customers, who do not have access to traditional credit cards or prefer to manage their expenses with installment payments.

Amazon Pay Later is the hassle-free option to get instant credit through a completely digital process for purchases using EMI on Amazon.in. It Required one-time setup process which does not require you to provide credit card details. Once you complete the setup, then you can go to amazon.in and during the check out, choose amazon pay later payment option with EMIs ranging from 3 to 12 months. One can easily track your purchases, repayments, and limits history from a simplified dashboard for this payment mode. Amazon Pay India Pvt Ltd having partnership with its third party lending partners such as axio or IDFC First Bank.

amazon pay later
amazon pay later; Buy now pay later

 

Which of these are benefits of setting up auto repayment on amazon pay later?

Find Purpose and Benefits

  • Get instant decision on your credit limit by the lender
  • No processing or cancellation fee
  • Credit card details not required
  • Easy checkout Option on Amazon.in with payment option Amazon Pay Later
  • Dashboard helps to track expenses and repayments on the EMI
  • No Pre-Closure charges
  • No cost EMI (Equated Monthly Installments)
  • Integration with Amazon account
  • Flexibility in payment options

How Amazon Pay Later Works

 There are two ways :

  • Auto repayment:

  • which is a one-time setup during registration, or at the time of first purchase using Amazon Pay Later or from Amazon Pay Later dashboard.
  • Manual repayment function from its dashboard

  • it is for manual repayment of the installments or full pending balance through any ATM cum debit card, UPI payment or net-banking.

For auto repayment, sight will redirected to your bank page to complete the process by using Net banking or debit card-based authentication. After Completing the process the due amount will be automatically deducted from your linked bank account. The above process makes the repayments hassle-free. The one time mandate setup can be charged by your bank. Details of Bank page should be read carefully. For auto repayment setup Ru pay credit cards are not supported.

Amazon Pay later Eligibility

  •  You Should have a Verified Mobile Number and an amazon.in account.
  • PAN Card is required.
  • Required A Bank Account with one of the selected banks.
  • Address proof such as a driving license, voter ID card, Adhaar, utility bills (not older than 60 days) and a passport.
  • Age must be 23 years or more.
  • Your credit bureau history and information which Amazon already has, is used to determine your eligibility.

Amazon Pay Later Registration

Currently available only on Mobile (app & m-web Open) Go to the amazon app and then go to the amazon Pay Later registration page. Complete KYC bases on 04 KYC options

Option 1- Existing KYC:

Step 1: Verify Identity

Need to enter the missing 4 digits of PAN Card. After the submission of your information, your profile will be evaluated, and an Amazon Pay Later limit will be determined, which will be displayed on the screen.

Step 2: Accept Terms

Related Page will be displayed on screen. simply read and accept the agreement to complete registration.

Option-2 OTP based eKYC

Step 1: Verify Identity

Enter PAN and Aadhaar number and Continue. An OTP will be received on your mobile number registered to your Aadhaar number.Enter OTP and continue. After submission, the profile will be evaluated, and the Amazon Pay Later limit will be determined which will be displayed on the screen.

Step 2: Accept Terms

Related Page will be displayed on screen. simply read and accept the agreement to complete registration.

Option-3 Existing KYC with lending partner 

Step 1: Verify Identity

OTP will be sent to the registered mobile number with the Lending Partner
Need to enter the missing  Four digits of PAN you used to complete the lender’s KYC. After submission of OTP, the lender will evaluate your profile and determine your Amazon Pay Later limit, which will be displayed on the screen.

Step 2: Accept Terms

Related Page will be displayed on screen. simply read and accept the agreement to complete registration.

Option 4, CKYC

Step 1: Verify Identity

Answer a few questions about basic KYC information and consent to the KYC details displayed from CKYCR. After submission, your profile will be evaluate by the lender which determine your Amazon Pay Later limit, that will be displayed on the screen.

Step 2: Accept Terms

Related Page will be displayed on screen. simply read and accept the agreement to complete registration.

Comparison with Other Payment Method

 When comparing Amazon Pay Later with other installment payment services, it’s important to consider various factors such as availability, integration, eligibility, interest rates, and convenience. Here’s a comparison between Amazon Pay Later and PayPal credit payment services:

Availability: PayPal Credit is widely available for online and offline purchases, while Amazon Pay Later is limited to Amazon purchases.

Integration: PayPal Credit can be used at various merchants, making it more versatile compared to Amazon Pay Later.

Eligibility: Both services have eligibility criteria, but PayPal Credit may require a credit check, whereas Amazon Pay Later’s criteria may be based on Amazon’s internal assessments.

Interest Rates: PayPal Credit offers promotional financing with no interest if paid in full within a specified period, while Amazon Pay Later may have interest charges depending on the repayment duration.

Conclusion: Amazon Pay Later

 Amazon Pay Later offers convenient and flexible installment payment options for Amazon customers. With integrated checkout, customization repayment duration, and potential interest-free options, it provides a streamlined and budget-friendly solution for managing expenses and making purchases on the platform. It’s important to note that the availability, terms, and features of these installment payment services may vary by country and are subject to change. Before using any service, it’s recommended to review the specific terms, conditions, and eligibility requirements provided by the respective providers. Read More

 

Amazon Pay Later Quiz

 Amazon has initiated the quiz related to amazon pay later. You need to go into the amazon mobile app navigate to the homepage then click on offers on amazon pay later quiz or you can choose the fun zone by clicking amazon quiz banner. Now you need to answer the question which will be related to amazon pay later, after giving all the answers you will be eligible for winning some exciting prizes if your name will be chosen for lucky draw.

FAQ (Frequently Asked Questions)

 Is Pan Number Mandatory?

Yes, Provide your PAN details at the time of registration, Not require for every transaction.

Will  My Personal Details be Secure?

 Amazon is big brand we can rely on amazon policy, because it follows globally recognized and certified data security standards to ensure safety of your data and information.

What happens if I don’t pay my EMI on time?

Pay your EMI on time in order to avoid late payment charges. Maintain adequate balance in your account around the repayment date. Not paying your EMI on time could result in a negative impact to your CIBIL score and all other bureau scores. Pay on time to avoid any legal action or suspension of Amazon account.


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