Amazon Pay introduced it has reached 2 million buyer customers which have signed up beneath Amazon Pay Later. Launched amidst the pandemic final 12 months to allow purchases of necessities in addition to excessive worth objects permitting buyer to purchase now pay subsequent month or in installments (EMIs).
Amazon Pay Later is a fee methodology the place banks and monetary establishments supply an on the spot credit score line to prospects with a straightforward digital sign-up course of and has recorded 10 million + transactions at 99.9% Fee Success Fee.
Talking on the event, Vikas Bansal, Director – Amazon Pay India stated, “We’re humbled to serve tens of millions of consumers on Amazon Pay Later and supply a digital line of credit score to prospects procuring on Amazon.in. Amazon Pay Later offers a seamless fee expertise with in-built security measures and empowers our prospects to higher handle their month-to-month spends. 2 Million sign-ups are an affidavit of consumers’ adoption and belief to decide on Amazon Pay.”
The milestone displays the rising choice amongst Amazon prospects for digital funds, together with a readily accessible credit score line from banks and monetary establishments that gives comfort, security together with distinctive rewards and advantages. Amazon Pay Later is geared toward serving to prospects lengthen their budgets for, say for prime priced merchandise purchases like residence home equipment, digital devices, on a regular basis necessities, groceries, and even pay their month-to-month payments be it electrical energy, cell recharges, DTH and extra. Prospects can avail the choice to repay by subsequent month at no further value, or in simple EMIs as much as 12 months at nominal rates of interest via their financial institution accounts.
