Amid coronavirus lockdown, e-commerce stores like Amazon, Flipkart, Shopclues are halted. However, due to less infection rate in India, these e-commerce services are expected to resume shortly. Its an upgraded version of Amazon Pay EMI, which got launched in September 2018 and till now available in western countries only.
Now Amazon India has brought a gift in lockdown for Indian customers. Amazon India has now launched a credit service for Indian customers, named ‘Amazon Pay Later’. This kind of service was already started by Flipkart much earlier, and in that too gave customers the option of first purchase and then paying later.
Using Amazon Pay Later scheme service, the users will get the benefit to paying the payment of the product and services purchased in the next month with no additional charge or interest. For large transactions, users can also get the option for paying the amount in 12 months easy installments. However, the customer will have to pay interest at a nominal rate if you choose to pay in installments. Apart from this, customers can also use this facility to pay utility bills.
In this service, consumers will get more benefits, like on Amazon Marketplace, customers will get instant credit on all products listed online, besides this credit can also be used to buy groceries and pay bills.
This new service, customers will be able to shop for everyday items ranging from used goods to electronic articles, books and clothes. Amazon Pay has partnered with Capital Float to launch this new feature. Capital Float has added Karur Vysya Bank (KVB) to this facility.
There are also some products listen on Amazon, which is also available on no-cost EMI, that is where customers can purchase products at no interest. This service of Amazon will help Indian customers to shop more and increase their budget. The company has said that this service got started for some customers only under the “pilot project.” The company has now decided to extend the scheme to lakhs of eligible customers.