Amazon Pay Later- Benefits, Eligibility and Registration Process 2023

Amazon Pay Later

Amazon’s Pay Later facility offers Amazon customers zero-interest credit on any Amazon India product. It will also allow you to repay it in monthly installments of up to 12 months. It allows users to get instant credit for purchases made using EMI on Amazon.in in a hassle-free manner. Pay Later allows consumers to use the credit to pay for monthly utility bills or essential purchases. Here’s a step-by-step guide on how to register for Amazon Pay Later.

What is Amazon Pay Later?

What is Amazon Pay Later?

Amazon Pay Later is a hassle-free way to get instant credit for EMI purchases on Amazon.in through a completely digital process. You just have to go through an easy one-time setup process and it doesn’t require credit card information. Once the setup is complete, the Amazon Pay Later option on Amazon.in can be used to pay at the end of the next month or on EMIs of 3 to 12 months.

Benefits of Amazon Pay Later

Benefits of Amazon Pay Later

  • The lender will take an instant decision on your credit limit.
  • Credit card information is not required.
  • There is no processing or cancellation fee.
  • There is no pre-closure charge.
  • Checkout on Amazon.in is quick and easy with the Amazon Pay Later payment option.
  • Expense and repayment tracking simplified.

Eligibility criteria to avail Amazon Pay Later?

Eligibility criteria to avail Amazon Pay Later?

  • You must have a verified mobile number and an Amazon.in account.
  • A valid Permanent Account Number (PAN) card is required.
  • Must have a bank account with one of the selected banks
  • Address Proof such as Driving License, Voter ID Card, Aadhaar, Utility Bill (not older than 60 days) and Passport.
  • You must be at least 23 years old or older
  • Your credit bureau history and information Amazon already has is used to determine your eligibility.

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How to register for amazon pay later?

How to register for amazon pay later?

Open the Amazon app and then go to the Amazon Pay Later registration page.
Full KYC basis on four KYC options

How to create Amazon Pay merchant account 2022-23

Option 1- Existing KYC:

Step 1: Verify Identity

Enter the missing four digits of the PAN card. After submitting your information, your profile will be evaluated, and Amazon Pay Later limit will be determined, which will be displayed on the screen.

Step 2: Accept the Terms

The Amazon Pay Later Limit and Loan Agreement is displayed on the screen. Now, read and accept the agreement to complete the Amazon Pay Later registration.

Option-2 OTP based eKYC

Step 1: Verify Identity

Enter PAN and Aadhaar number and continue.
An OTP will be received on your mobile number registered with your Aadhaar number.
Enter OTP and continue.
After submission, the profile will be evaluated, and Amazon Pay Later limit will be determined which will be displayed on the screen.

Step 2: Accept the Terms

The Amazon Pay Later Limit and Loan Agreement is displayed on the screen. Now, read and accept the agreement to complete the Amazon Pay Later registration.

Option-3 Existing KYC with lending partner

Step 1: Verify Identity

OTP will be sent to the mobile number registered with the lending partner
Enter the missing 4 digits of the PAN card that you used to complete the KYC of the lender.
After OTP submission, the lender will evaluate your profile and determine your Amazon Pay Later limit, which will be displayed on the screen.

Step 2: Accept the Terms

The Amazon Pay Later Limit and Loan Agreement is displayed on the screen. Now, read and accept the agreement to complete the Amazon Pay Later registration.

 Option 4, CKYC

Step 1: Verify Identity

Answer a few questions regarding basic KYC information and give consent for the KYC details to be displayed from CKYCR.
After submission, the lender will evaluate your profile and determine your Amazon Pay Later limit, which will be displayed on the screen.

Step 2: Accept the Terms

The Amazon Pay Later Limit and Loan Agreement is displayed on the screen. Now, read and accept the agreement to complete the Amazon Pay Later registration.

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