In a bid to redefine the online shopping experience, Amazon Pay, the digital payment arm of the e-commerce giant Amazon, has rolled out an exciting new feature. Amazon Pay now offers RuPay credit card users in India the convenience of Equated Monthly Installments (EMIs). This customer-centric move is a testament to Amazon’s unwavering commitment to providing convenience and affordability to its vast and diverse customer base.
The Rise of EMI Payments During the Great Indian Festival Sale:
During the recent Great Indian Festival Sale, EMI payments took center stage, becoming the preferred mode of transaction for many. Astonishingly, one in every four orders was settled using EMI, highlighting a clear shift in consumer preferences. What’s more, a whopping three out of four customers who opted for EMI chose the No Cost EMI option, underscoring the demand for flexible and budget-friendly payment alternatives.
Amazon Pay: Vision
Mayank Jain, Director of Credit and Lending for Amazon Pay India, reiterated the company’s commitment to delivering unparalleled value and convenience. He emphasized how the collaboration with the National Payments Corporation of India (NPCI) to introduce EMI on RuPay credit cards would widen access to credit, amplify savings, and make online shopping more affordable and convenient, especially during the festive season.
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- RuPay Partnership: Amazon has teamed up with RuPay, a domestic card network, to offer EMI payments to RuPay credit cardholders.
- Customer-Centric Approach: This initiative places the customer at the forefront, aiming to simplify and enhance the online shopping experience, particularly during festive occasions.
- Great Indian Festival Sale Success: The recent Great Indian Festival Sale was a massive hit, with around 9.5 crore customer visits. Prime members played a significant role in this success, with their shopping activity surging 18-fold during the first 24 hours.
- Inclusivity: Amazon’s appeal transcends metro cities, as 80% of customers who placed orders during the sale hailed from non-metro areas. Furthermore, over 65% of the sellers who participated in the initial two days of the sale came from tier 2 and tier 3 cities.
Amazon Pay: Versatile Payment Options
Since its inception in 2019, Amazon Pay has been an inventor in driving innovation through its extensive range of payment options. Amazon Pay has carefully crafted these choices to cater to a wide variety of customer preferences, ultimately elevating the accessibility and convenience of online shopping.
One noteworthy accomplishment of Amazon Pay is the introduction of EMI payments exclusively for RuPay credit card holders. This strategic move has revolutionized the online shopping landscape for millions of Amazon customers in India. The surging popularity of EMI payments offers customers the flexibility to effortlessly acquire their desired products while effectively managing their financial commitments.
This customer-oriented approach effortlessly lines up with Amazon’s core mission of continually innovating and delivering optimal solutions to its diverse customer base. The end result is an online shopping experience that flows effortlessly for one and all.