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Indian e-commerce giant Amazon today introduced the option for RuPay credit card users to make payments on EMIs. The company says the move was taken to make shopping more convenient and affordable for shoppers.
With EMI emerging as the most used form of payment during the first 48 hours of the Great Indian Festival Sale, Amazon says 1 in 4 orders were paid for using instalments while 3 in every 4 people who paid using EMI used the No Cost EMI option.
Mayank Jain, Director of Credit and Lending for Amazon Pay India, said, “The introduction of EMI on RuPay credit cards in partnership with NPCI will allow customers better access to credit, provide best-in-class value and help maximize savings. This will drive affordability and convenience of online shopping for customers across India, especially during the festive period. At Amazon Pay, we remain committed to innovate and offer convenient, inclusive, affordable and rewarding digital payment for our customers.”
In a press release, Amazon said this year’s Great Indian Festival Sale witnessed the biggest ever 48 hours of shopping, recording around 9.5 crore customer visits. Shopping by Prime members also surged 18 times in the first 24 hours, which is the highest ever for the platform.
While 80 per cent of customers who ordered from Amazon were from non-metro cities, more than 65 per cent of sellers during the first two days belonged to tier 2 and tier 3 cities.
Introduced in 2019, Amazon Pay offers several payment options like Pay Later, Pay Wallet and UPI to name a few. The e-commerce platform also offers rewards for new and frequent customers.
