Amazon Pay Later All Details
What is Amazon Pay Later?
amazon pay later is credit service
facilities. Which amazon is offering to its consumers? For shopping. amazon pay
later similar to bank like bank provide credit card similarly amazon provide
credit limit to its consumers.
(THERE IS NO CHARGE TO USE AND ACTIVATE TO AMAZON PAY LATER)
What are the eligibility criteria to avail Amazon Pay Later?
You need to have an Amazon.in account with
a verified mobile number, a valid permanent account number (PAN) card, bank
account with one of the selected banks, and one of the officially valid
documents as address proof - Driving license, Voter ID card, Aadhaar, Utility
Bills (not older than 60 days), Passport. You must be 23 years of age or above
Further eligibility is decided basis information already available with Amazon
and your credit bureau history. Based on these and a host of other factors,
lending partner will decide the Amazon Pay Later limit for you.
Amazon Pay Later Registration and Amazon Pay Later Activate
Go to Amazon Pay Later registration page on
your Amazon.in mobile App and follow simple on-screen instructions.
(1) Existing KYC (shown only in case you have completed KYC for Amazon Pay Balance).
(2) OTP Based eKYC
(3) Existing customer with lending partner (Shown only in case you have already completed KYC with our lending partner in past)
(4) KYC as received from CKYCR under CERSAI
If you Choose Option 1, i.e., Existing KYC, you will need to
follow the below steps:
Post submission of details, your profile will be evaluated, and Amazon Pay Later limit will be determined which will be displayed to you on the next screen.
Step 2: Accept Terms
If you Choose Option
2, i.e., OTP based eKYC, you’ll need to follow the below steps:
Step 1: Verify Identity
Enter your complete PAN card number and click Continue.
Enter your complete Aadhaar number and click Continue.
Step 2: Accept Terms
If you Choose Option
3, i.e., Existing KYC with lending partner, you will need to follow the below
steps:
Step 1: Verify Identity
Step 2: Accept Terms
If you Choose Option 4, i.e., CKYC, you'll need to follow the below steps:
Step 1: Verify Identity
Answer a few questions on your basic KYC
information and give a consent on the KYC details displayed to you that are
fetched from CKYCR.
Post submission of details, your profile
will be evaluated by the lender, and Amazon Pay Later limit will be determined
which will be displayed to you on the next screen.
Step 2: Accept Terms
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 few minutes of completing the registration.
Amazon Pay Later Billing Cycle
For any purchase between 1st and 15th of
the month, the first EMI will be due on the 5th day of the next month and for
any purchase between 16th and till the end of the month, the first EMI will be
due on the 5th day of the month next to the subsequent one.
For example: If you've made a transaction
using Amazon Pay Later on June 14th, the first EMI will be due on 5th of July.
And, if you've made a transaction using Amazon Pay Later on June 16th, the
first EMI will be due on 5th of August (month next to the subsequent one).
late payment fees/penalties for delayed payments
If you miss your payments on due date, we
request you to manually pay it as soon as possible. Not paying even 3 days
after your due date might attract late payment penalty of up to INR 200.
Amazon Pay Later Availability
You can purchase, recharge, bill payment etc. anything on amazon except Following items shouldn't be in your cart:
(a)Jewelry
(b) Amazon Pay Gift Cards including physical gift cards and email gift cards
(c) Amazon Pay balance top-up
(d) Products from Amazon Global Store or Out of Country or Overseas Merchants
(e) Bullion (Gold and silver)
(f) Credit Card bill payment
In which product Amazon gives you the option of EMI?
The price of the product is more than 3000
or 3000. You will get the EMI option on it.
Purchase Using Amazon Pay Later
Amazon Pay Later currently offers 3-, 6-,
9- and 12-month EMI plans. In addition, customer can pay later next month as
well. The applicable plans for your purchase will be displayed on the payment
page during checkout.
(Auto-repayment
setup is a one-time setup that can be done: (i) at the time of registration
(optional); (ii) during first purchase using Amazon Pay Later (mandatory if not
set already); or (iii) from Amazon Pay Later dashboard.)
Where can I check my approved limit under Amazon Pay Later post
successful registration and transaction?
All limit related details along with your transaction & repayment history can be accessed from your Amazon Pay Later dashboard available here.
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