Amazon Pay EMI available for select users: How to register and use the new feature

Amazon India mobile app rolls out a new feature for select users. There is a new banner on the app showing the Amazon Pay EMI feature. However, this feature is available only for select users for now. With this feature, users can avail instant credit and pay via EMI using just their debit card.

To offer the debit card EMI facility, the online retailer has teamed up with Capital Float. Also, the eligible banks include ICICI Bank, Citi Bank, HDFC Bank, Kotak Mahindra Bank and Canara Bank. Users can avail EMI payment options from 3 months to 12 months with the same.

This feature has been rolled out after the expanded availability of debit card EMIs to Axis and ICICI Bank users recently. Earlier this year, HDFC Bank users alone enjoyed this feature.

How to register

Select users are pre-approved to avail the Amazon Pay EMI feature while others have to wait to get an invitation to use it. To register, you need to verify your identity using PAN and Aadhaar details. An OTP will be sent to the mobile number linked to your Aadhaar card. The credit limit will be estimated by the lending partner and you can use it to make multiple purchases on Amazon. Remember that you will have to link your debit card for auto repayment in EMI.

There's a catch

There are some terms and conditions associated with this new service. You can avail the Amazon Pay EMI only for single item purchases provided the minimum purchase value is Rs. 8,000 or above. And, you cannot avail this benefit along with the exchange offer. The linked account has to have a sufficient amount covering the cost of purchase. To use Amazon Pay EMI, you should make sure that the Amazon Pay balance payment mode is selected.

The credit limit will be decided by the lending partner and not Amazon. And, you cannot avail the Amazon Pay EMI benefit on jewelry, Pay balance top-up, gift cards or products from the Amazon Global Store.

Though we at Gizbot got an intimation that this feature will soon be made available, we were not able to check the same.