eCommerce major, Amazon India, has launched a card-less EMI option using Amazon Pay through which customers will be able to purchase high value items without using credit card.

This offer has been launched keeping in mind the festive season and to take on Walmart owned Flipkart and attract more customers.

“Amazon Pay EMI is the hassle-free way to get instant credit, via a completely digital process, for purchases using EMI on Amazon.in.”

The new cardless credit facility offers an EMI from INR 8000 to up to INR 60,000 over a period ranging from 3 to 12 months for any purchase made through Amazon.in.

Amazon customers need to complete a one-time setup process in order to avail the Amazon Pay EMI payment option checkout on Amazon.in to make payments over EMIs ranging from 3 upto 12 months.

Customers will also be able to keep a track of their purchases, repayments from a dashboard of this payment mode. Here are all the things you need to know about this new payment option from Amazon.

Steps to avail CardLess EMI Option

Amazon Pay EMI is available only for mobile platforms. The payment mode is applicable for single item purchases and the minimum purchase amount is INR 8,000 to avail Amazon Cardless EMI facility.

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 without an exchange offer.

Here customers need not to enter any credit/debit card details such as credit/debit card numbers etc.

1. Go to Amazon Pay EMI registration page on your Amazon.in mobile App
2. Tap on Amazon Pay EMI > Register
3. Provide your PAN and Aadhaar/Virtual ID (VID) details for verification
4. Complete the process of verification by entering the OTP received on your registered mobile number
5. Now Amazon sends an approved Amazon Pay EMI limit on your screen
6. Choose the auto-repayment option by selecting the debit cards from banks mentioned by Amazon
7. Link your bank account/debit card to process your monthly EMI repayments whenever you use this limit for booking
8. You will be charged for an amount of up to INR 5 to verify your details. This amount will be refunded to you in 3-5 business days

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.

Recently, Amazon pay acquired app aggregator Tapzo and invested in ToneTag for contactless payment.

Digital payment is a buzzword now-a-days and appearing everywhere in India either small or medium-big market and most of the players have already filled the gap. Many more are coming in the battleground to fight in the zigzag row. In the same row, American Express has announced the launch of Amex Pay in India. Amex pay is a mobile payment service in the country which allows the American Express card users make payments based on QR codes and contact-less payments via the Amex mobile app.

The Amex Pay feature is available on Android devices with NFC and running Android 4.4 KitKat minimum or higher and iOS devices running iOS 11.2.6 can be used for the Amex Pay.

For now, the contact-less payments are not supported on iOS. Additionally, the device should be capable of reading QR codes using the camera app, in order to carry out QR code-based transactions.

How to do QR Code based Payments using Amex Pay?

1. Log in to your American Express account on either the Android or iOS app of the Amex Mobile app
2. Choose Register with Amex Pay
3. Grant the required permissions and enter the OTP you received in order to complete the verification process
4. For QR-based payments, you need to click on Pay with Bharat QR, scan the code, and enter the amount
5. Confirm the same and enter the card’s PIN to complete the process

How to do NFC based Payments using Amex Pay for Android devices only?

1. Follow first three above steps on Smartphone which supports NFC, make NFC on from the settings
2. Make sure Amex Pay contactless digital payment is the default tap and pay service
3. Hold your smartphone close to the payment terminal to do the contactless digital payment/transaction

Samsung Pay was introduced in India with support for the American Express credit cards and charge cards those are eligible for the payment.