Amazon Pay

Amazon Pay is an online payment processing service owned by Amazon. It was launched in India in February 2019. It works in collaboration with Axis Bank for the UPI IDs. Customers are allowed to link their bank account to their Amazon mobile app and make payments quickly, easily and securely, directly from their bank account.

Customers will be allotted an Amazon Pay UPI ID to buy on Amazon.in or the Amazon App as well as make payments for their regular needs, including mobile recharges and bill payments, without accessing their bank accounts, debit card or credit card or going through the hassle of authentication in their banking system.

Amazon uses UPI (Unified Payments Interface) of India to allow customers to pay for goods and services on the Amazon site or other merchant sites. Amazon Pay can be linked to multiple bank accounts and you can choose the bank account you want to debit the payment from at the time of checkout. You can also load money into your Amazon Pay account through your credit card or debit card for faster checkouts at the time of purchases on Amazon App or Amazon.in.

What are the advantages of using Amazon Pay?

• The primary benefit of Amazon Pay is a faster and easy checkout process as you don’t have to go through the entire process of entering your bank details or card details to complete the payment process.
• One stop solution to pay using multiple channels like your UPI, Amazon Pay Balance, Gift Cards, Debit & Credit Cards, Net Banking
• Amazon Pay is highly secure and keeps your personal information safe for an enhanced payment experience.
• Amazon Pay Guarantee protects qualified purchases
• You can use Amazon Pay on more than 10,000 online shopping sites. 
• Use Alexa Voice Command to make purchases and donations. 
• For merchants, an easier payment process results in higher business. 
• Flattering deals, great savings, unlimited savings on Amazon Pay Co-Brand Credit Card.
• Amazon Pay EMI allows consumers who do not have access to credit to earn credit up to Rs 1 Lakh and make repeated transactions over a month and pay the next month or through simple EMIs.
• Transfer cash to friends and family with Amazon Pay UPI quickly via your phone contacts or ask them to transfer money and earn incentives.
• Pay conveniently with your favourite payment options for your monthly bills like utility bills, DTH and mobile recharges.

How to register on Amazon Pay?

Amazon users can start using Amazon Pay anytime. They just have to accept the Terms & Conditions and Amazon Pay is ready for use. It does not need a separate registration process.

What can Amazon Pay be used for?

The applications of Amazon Pay are a lot. Here are some things you can use Amazon Pay for:

• Recharge prepaid mobile number or make postpaid mobile bill payments
• Shop online on Amazon or 10,000+ other online shopping outlets
• Transfer money to family & friends from your bank account to their account using phone number
• Make monthly utility bill payments, DTH recharges, credit card payments, insurance premium payments, gas connection, broadband bills, municipal taxes, and many more
• Plan your travel; book flight tickets, bus or train tickets, hotel bookings, and more
• Get attractive rewards when you book your movie tickets through Amazon Pay
• Purchase and send gift vouchers, birthday gift cards, or any other special occasion.
• Pay and get amazing rewards with partner brands for food orders, stores near you, health & fitness expenses and more
• Link multiple bank accounts to your Amazon Pay for convenience. You can check your bank balance through Amazon Pay.

Salient Features of Amazon Pay

Amazon Pay has a few different features that offer great benefits to its users. 

Amazon Balance

Amazon Pay Balance is a digital payment service allowed by Amazon Pay (India) Private Limited that helps you to make online purchases on Amazon.in and other shopping websites and apps.

Amazon Pay Balance consists of two main elements, Money and Gifts & Credits. 

Amazon Pay balance= Money + Gifts & Credits

Money is the balance that you add to your Amazon Pay Balance, whereas Gifts & Credits display your gift card balance and any cash backs or refunds that have been received. You can view the breakdown of this information on your statement.

How do I load money to my Amazon Pay balance?

You can load money into your Amazon Pay balance account using a debit card, credit card or NetBanking.

• Click on Amazon Pay from the menu on your Amazon App. 
• Go to Add Money
• Select the amount you wish to add. Click Continue
• You will take to the payment methods to complete the payment process. 

How to view Amazon Pay Balance?

• Login to your Amazon App and go to Amazon Pay. 
• Click on the View Statement option. 
• It will display the total balance and the break-up of Amazon Pay Balance: Money & Amazon Pay Balance: Gifts & Credits

How to use the Amazon Pay Balance to make purchases on the Amazon App?

• Add the items to be purchased to your Amazon cart. 
• Proceed to the payment page. 
• It will give you the option to pay from your Amazon Pay Balance
• Select the option to debit the amount directly from your Amazon Pay Balance account.

Is there any limit on the amount I can load to my Amazon Pay Balance?

• With the initial Pay Balance account, you will be able to spend up to Rs. 10,000 in a month or up to Rs. 1 lakh in a year.
• Once you complete Full KYC, the limit will be removed. 
• However, you cannot have a balance of more than Rs.1 lakh at any given point of time.

Amazon Pay Later

Amazon Pay Later is a credit facility offered by Amazon Pay. This facility allows you to purchase products on Amazon in easy instalments. You need to register for this facility one time and you can start using it for eligible purchases.

• Easy and hassle-free EMI payments for all your eligible purchases on Amazon App and Amazon browser
• Pay in EMIs ranging over 3 to 12 months
• Get a separate dashboard for your Amazon Pay Later purchases so that you can track the payments, transaction history, limits and other details.
• You don’t need to enter your credit card details. You get instant approval from your lender.
• You are not charged any processing fee or cancellation charges. 
• There are no pre-closure charges.

Amazon Pay UPI

Amazon Pay UPI is linked to the UPI of India. It allows you to make money transfers between bank accounts. It is provided in association with Axis Bank.

It is very simple to register for Amazon Pay UPI. 

• Login to your Amazon app. 
• Go to Amazon Pay and select Amazon Pay UPI. 
• Choose the mobile number and the bank account linked to it. 
• If you have multiple SIM cards on your mobile phone, choose ‘Verify Phone Number’.
• Once your phone number has been verified, you can choose the bank account you want to link with your Amazon Pay UPI account.
• You are all set now. You can start paying through your Amazon Pay UPI. 

How to send money to others using Amazon Pay UPI?

• Go to the Amazon Pay Dashboard. 
• Choose ‘Send Money’
• You can send money using the UPI ID of the other person, send to a phone number, send to a bank account using account number and IFSC code and to a person you have recently transacted with.

How to pay for purchases using Amazon Pay UPI?

• You can pay for purchases using Amazon Pay UPI on the Amazon app or on any other online shopping sites.
• Add the items you want to purchase to the cart and proceed to checkout. 
• In the payment options, choose Amazon Pay UPI. 
• You will be asked to enter the UPI PIN to complete the transaction. 
• The amount is directly debited from the bank account linked to your Amazon Pay UPI account.

Amazon Pay ICICI Credit Card

Amazon Pay ICICI Bank Credit Card is a credit card issued by ICICI Bank in collaboration with Amazon Pay (India) Private Limited (Amazon) and Visa. This is a lifetime unlimited credit card with no subscription fees or renewal fees. The card rewards system is structured to include rewards on any transaction, both on and off Amazon.in, in the form of the Amazon Pay balance in the Gift and Credits tab.

• You can apply for an Amazon Pay ICICI Credit Card from the Amazon Pay Dashboard.
• Amazon Prime members can get 5% reward points for Amazon.in purchases and Non-prime members get 3% rewards for their purchases.
• There are no joining fees or renewal fees. 
• No limit on how much you can earn on this card. 
• There is no expiry date on your earnings on this card.

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