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What Is Amazon Pay Later And How To Avail It!

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Amazon has been in the Indian market for a very long time now and had already introduced the Amazon Pay service in India back in September 2018. Amazon also operates a Credit Card in partnership with ICICI Bank under the name of Amazon Pay and offers flat 5% cashback on all Amazon purchases made using the card for prime members. Amazon Pay has been a wallet service allowing users to load gift cards as Amazon Pay balance and use it for future purchases on the Amazon India website. The Later suffix means exactly what it sounds and offers a post-paid service to the existing offering.

By Akhil Taneja - 
29th Jun 2020
What Is Amazon Pay Later And How To Avail It

Highlights of the Story

  • Amazon Pay has been available as a service in India since September 2018 and offered wallet services to Amazon purchases and supported Gift cards feature
  • Amazon also operates its own credit card in partnership with ICICI and offers flat 5% cashback to all purchases by Prime members on Amazon, this is run under the blanket of Amazon Pay
  • Amazon Pay Later is essentially a credit offering or post-paid service to the existing wallet feature allowing you to spend a pre-approved amount on Amazon directly

Amazon is perhaps the biggest e-commerce platform locally here in India as well as globally, they offer products in almost every major segment and include many features and additional services for convenience. Amazon Pay is one such addon feature being offering by the e-commerce giant to its customers to simplify spending and encouraging returning customers. Amazon Pay is essentially a wallet allowing users to top-up using any payment method or even gift cards, this money can be easily used towards purchases made on Amazon in the future.

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Amazon Pay is responsible for simplifying a lot of payments on the website, they also come with a dedicated ICICI partnered Amazon Pay co-branded credit card in India that offers a flat 5% cashback to all prime users who buy on Amazon. This is to encourage more spending and to make sure that Amazon is always at the top of the priority list while users shop online. Amazon Pay Later is a credit service that allows users to use the Amazon Pay Platform on a Post-paid basis for a pre-approved amount.

Amazon Pay Later offers instant credit on all products up to Rs 60,000 as long as they are purchased on Amazon. You can even use the credit amount to make payment for water, electricity, mobile bills, or purchase of groceries. Cash equivalent products such as jewelry, Amazon Pay Gift card, and Top-up are not available for purchase along with products from the Global Store or Foreign sellers. The credit amount can be paid back in the subsequent month at no additional fees or can be easily divided into EMI for up to 12 months at ease. There are no additional fees however there might be an interest of 1.5 to 2 percent per month, in some cases as indicated, certain products might be available with a no-cost EMI option.

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For a tenure of one month, you can buy a maximum amount of Rs 10,000 and pay it back in the next month. 3 months tenure options are available between the amounts 3,000 and Rs 30,000 and you will have an option to buy now or Pay later in EMIs. There are several other options ranging up to 12 months with a minimum purchase amount of Rs 9,000 up to the upper limit offered to you based on your credit history.

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What Is Amazon Pay Later And How To Avail It

According to reports, it is now allowed on shopping as well as bill payments, the service can also be used on all online and offline merchants where Amazon Pay is accepted, this includes websites such as Swiggy, ClearTrip, and BookMyShow. When it comes to eligibility, Amazon analyses your activity with Amazon Pay sellers, the marketplace, and more. The final decision still lies with the lender who decides by gauging your ability to pay back considering the common factors for any credit offered.

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How to Apply and Avail Amazon Pay Later Service

  • Start the process by visiting the dedicated registration page for the service on Amazon app or a browser
  • Enter your details and fulfil the KYC formalities online to activate the Pay Later feature
  • After successful KYC, the Amazon Pay Dashboard will show the registration status and you can see all your future transactions in this section
  • You will need to furnish all the required details online and get your KYC approved to be eligible for Amazon Pay Later


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