Confused Amazon Payments?

Deal Cadet

Amazon has introduced multiple payment services and gift card/vouchers. I summarised the basic details for confused people.

Amazon pay UPI:

It's a basic UPI service just like any other UPI app. Any cashback received will be credited into the gift card balance of amazon.

Amazon Wallet:

It's a wallet service which requires basic KYC. For users with basic KYC enjoys restricted wallet usage. Users with full KYC can enjoy 1 Lakh limit and amount transfers. It's just like Paytm wallet. Only users with Full KYC can load and transfer wallet balance to bank account.

Amazon Pay Gift Card:

It's a gift card which holds money. It can be loaded into gift card balance of amazon. Or you can redeem in any amazon purchase. It's general validity is 1 year unless stated explicitly.

Amazon Pay Later:

It's a digital zero interest credit line. It requires KYC. You cannot withdraw cash. It's equivalent to a credit card except no joining fee, emi processing fee, annual fee and offers low interest. Suitable for people especially for students who are not eligible for credit cards.

Amazon shopping voucher:

It's a voucher strictly meant for shopping on Amazon. Its balance cannot be redeemed elsewhere. So users be careful while purchasing any a gift card/ voucher.

Amazon pay ICICI credit card:

It's a co branded credit card offered by Amazon and any cashback earned will be credited to gift card balance.

Important Notes:
  1. Gift card balance and wallet balance are different. Wallet is like a  bank account offered by Amazon.
  2. You cannot use gift card balance for credit card bill payment. Wallet balance can be used for credit card bill payment.
  3. Pay later balance cannot be withdrawn.
  4. To avoid convience fees on credit card payments on certain merchants, users can use gift card balance to avoid charges.
  5. All the cashbacks will be credited into gift card balance.

Hope this gives basic info and avoids confusion. Ping for any corrections or clarification.

We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
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Deal's Advocate Deal's Advocate
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Nice Info Consolidation 



The PostMighty The PostMighty
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In schools, we studied the concept of 'sets' in algebra (or was it geometry). Anyway, an Amazon Shopping Voucher is a 'subset' of an Amazon Pay Gift Card. That is, Amazon Pay Gift Card will work wherever Amazon Shopping Voucher works but not the other way around.

 - Amazon Shopping Voucher can be used to purchase grocery and even get cashback on those Rs 100 CB on Rs 999 MOV offers. They can also be used to make big purchases like a cellphone by clubbing them. However, they cannot be used for bill payments, insurance or recharges.

 - Amazon Pay Gift Cards attract a surcharge of 2.5% of face value + GST (at least when buying via HDFC SmartBuy). Amazon Shopping Vouchers can be bought at face value with zero surcharge. Thus, it is wasteful to buy an Amazon Pay Gift Card when an Amazon Shopping Voucher can get the job done.

Deal Cadet Deal Cadet
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So far I didn't face any surcharge on Amazon pay gift cards. I want to use credit cards for certain govt bill payments where CC payment attract charges. By using Amazon pay gift cards I am able to avoid these charges.

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Deal Captain Deal Captain
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They have Amazon Fresh vouchers as well wink

Deal Detective Deal Detective
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To load  money  in az wallet thru  card  general  voter id  card  number  can  be  provided  , and  you  are good to  go .

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