Amazon Pay EMI has launched in India, bringing online payment options to consumers who don’t own a credit card. The EMI is limited at INR60,000 ($825) and works in partnership with multiple banks in the region, including HDFC Bank and Canara Bank. “Customers can now pay for their purchases using any of our over 1,000 partner banks,” said Amit Jain, CEO of Paytm. The service is currently an invite-only mobile function; users need to have an Aadhaar card and Pan card, and purchases must exceed INR8,000 ($110).
Amazon Pay EMI has launched in India, bringing online payment options to consumers who don’t own a credit card. The EMI is limited at INR60,000 ($825) and works in partnership with multiple banks in the region, including HDFC Bank and Canara Bank. The EMI function allows consumers to pay for Amazon purchases in instalments, ranging from 3 to 12 months. The service is currently an invite-only mobile function; users need to have an Aadhaar card and Pan card, and purchases must exceed INR8,000 ($110).