Amazon Pay launches card-less EMI with instant credit of up to Rs. 60,000

After Flipkart launched EMI on debit cards,  Amazon Pay today launched card-less EMIs for selected Amazon customers, so that they can make high value purchases even without credit cards during the festive season. This offers instant financing options to customers who may not yet have access to credit for purchasing high value products, up to Rs. 60,000 by splitting their purchases into instalments at low interest rates. This is an invite only program currently and selected customers have to complete a simple two-step registration process to get an assigned credit limit which they can use to make high value purchases on Amazon marketplace, said the company. Upon providing their PAN and KYC details (no document uploads required), selected customers will be instantly provided credit limit up to Rs. 60,000. Interest will be charged only when customers make a purchase using this assigned credit limit and there are no processing fees or hidden charges. Customers will have an option to setup auto repayments (standing instructions) for hassle-free repayment of their monthly installments. Customers can track their EMI order history, repayment history and pending dues through Amazon Pay homepage. Amazon has partnered with Capital float for the service. The company will soon send Amazon Pay EMI ...