10 Million Transactions Registered in Amazon's Pay Later feature
Amazon Pay Later is a payment method where banks and financial institutions provide instant credit to Amazon customers with an easy digital sign-up process, and customers can shop now and pay for the next month or in EMI installments.
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The Pay Later feature of Amazon India, introduced last year during the COVID-19 pandemic, has been well received by the users. Two million consumers have already signed up for the feature, and Amazon India has recorded over 10 million transactions at a 99.9% payment success rate.
Amazon Pay Later is a payment method where banks and financial institutions provide instant credit to Amazon customers with an easy digital sign-up process, and customers can shop now and pay for the next month or in EMI installments.
According to Amazon, this new credit feature is designed to help customers expand their budgets to pay for home appliances, electronic gadgets, everyday essentials, groceries, and even your monthly bills. was designed, be it electricity, mobile recharge, DTH and more. Customers can avail the option of paying EMIs for up to 12 months at nominal interest rates through their bank accounts at no extra cost till the next month.
"We are humbled to serve millions of customers on Amazon Pay Later and offer a virtual line of credit to customers shopping on Amazon.in. Amazon Pay Later provides a seamless payment experience with in-built security features and empowers our customers to better manage their monthly spends. 2 Million sign-ups are a testimony of customers' adoption and trust to choose Amazon Pay," says Vikas Bansal, Director - Amazon Pay India.
Amazon says these numbers reflect a growing preference among Amazon customers for digital payments, as well as easily accessible credit lines from banks and financial institutions that offer convenience, security, along with unparalleled rewards and benefits.
