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Amazon Pay expands availability of EMIs on Debit cards

MediaInfoline September 14, 2018
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Amazon Pay announced the expansion of EMIs on Debit Cards with ICICI and Axis Bank. Amazon Pay already offers EMI on Debit Card with HDFC bank and this expansion will benefit several million additional customers. These customers can now fulfill their shopping aspirations during the festival season and don’t have to wait to save up.

As the festive buying commences, this launch makes shopping more affordable for a larger set of Indian customers who want to buy high value items but don’t have credit cards. Debit Card EMIs allows eligible customers of the partner banks to shop on Amazon.in with installments using their pre-approved limits, removing the need to make full payment at time of purchase.

“We are thrilled by the overwhelming response from our pilot with HDFC Bank and this expansion is a step in line with our commitment to increase financing options and being the most affordable destination for our customers. The expansion on Debit card EMI offerings will now include several million more customers who use Debit cards and want to pay for their purchases later via EMIs. Customers with HDFC, ICICI and Axis debit cards can use this offering and make purchase decisions instantly without the hassle of saving up or delaying their purchases” says Vikas Bansal, Director, Emerging Payments, Amazon India

“At Axis Bank we have always been committed to help customers in their ‘digital journey’ through our sustained focus on making our offerings more innovative, safe and convenient and our partnership with Amazon Pay to offer our EMI on Debit Card program will further strengthen our efforts towards this aim. Along with Credit Cards EMI this offering will give another option to our customers to buy products more affordably.” said Sanjeev Moghe, Executive Vice President, Cards and Merchant Acquiring, Axis Bank Ltd.”

“ICICI Bank has always been at the fore-front of providing enhanced experience to its customers. As we approach the festive season, we believe this initiative will empower millions of our debit card customers to buy products of their choice and pay in easy EMIs. The move reaffirms our commitment to offer improved convenience and rich experience to our customers across the range of products and services,” said Sudipta Roy, General Manager and Group Head- Unsecured lending Cards & Payment Solutions, ICICI Bank.

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