FYI Amazon GC balance is now Amazon Pay Balance

FYI Amazon GC balance is now Amazon Pay Balance

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Deal Cadet
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new change in amazon

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Deal Captain
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Deal Cadet
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what are the advantages of this change?

Cutee
Deal Subedar
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blUeArrOw wrote:

what are the advantages of this change?

It seems nothing has changed except the name.

Though I expected some features like unlimited validity (like paytm https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif ) or transfer to bank feature but nothing of that sort is offered. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

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Deal Cadet
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One major change I think is:
3.Will I be able to pay for all my purchases on Amazon using Amazon Pay balance?
a.Yes, you can purchase anything on Amazon.in using your Amazon Pay balance except a limited selection of items like Amazon Gift cards/ Gold coins /Bank cards

That was the last of the viable exit options to cash out your Amazon GC balance, in case you really had to (usually at a cost)

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Deal Cadet
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Just the name has changed everything else remains the same

Dd
Deal Subedar
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umarkumar wrote:

One major change I think is:
3.Will I be able to pay for all my purchases on Amazon using Amazon Pay balance?
a.Yes, you can purchase anything on Amazon.in using your Amazon Pay balance except a limited selection of items like Amazon Gift cards/ Gold coins /Bank cards

That was the last of the viable exit options to cash out your Amazon GC balance, in case you really had to (usually at a cost)

Isn’t it same as earlier for GC balance?

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Deal Subedar
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DealDroid wrote:

It seems nothing has changed except the name.

Though I expected some features like unlimited validity (like paytm https://cdn2.desidime.com/assets/textile-editor/icon_toungueout.gif ) or transfer to bank feature but nothing of that sort is offered. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

Transfer to bank will be really amazing if implemented https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif

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Deal Cadet
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ishubhamsr wrote:

Isn’t it same as earlier for GC balance?

Gold coin purchase was allowed via GC balance earlier, at least a couple of months back when my neighbour had to use up his GC balance he had been accumulating for iPhone purchase (he opted to buy the iPhone via some card to avail the unexpected 10k discounts on various cards)

Chhota bheem
Deal Lieutenant
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M.MAHI wrote:

Transfer to bank will be really amazing if implemented https://cdn3.desidime.com/assets/textile-editor/icon_twisted.gif

They won’t, if they do then all offer like CASHLESS ,KitKat etc will have to be stopped as ppl will exploit by adding and withdrwing, which they may not want.

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Deal Cadet
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Amazon cannot introduce to-bank transfers for one more reason – that makes them a wallet subject to RBI guidelines for wallets.

Wallets are not permitted to earn interest on their holdings. All wallet holdings have to be held in escrow***. Holdings in the form of gift cards allows Amazon to earn interest on it, which in turn permits them to be generous with gift card discounts.

  • This obstacle, of course, is overcome by unscrupulous wallet companies like PayTM who seek to convert your holdings into cash backs. Cash backs are allowed to be interest-earning holdings for wallets. Now you know why cash backs are given left, right and centre by wallets, instead of offering plain discounts.
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Deal Lieutenant
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umarkumar wrote:

One major change I think is:
3.Will I be able to pay for all my purchases on Amazon using Amazon Pay balance?
a.Yes, you can purchase anything on Amazon.in using your Amazon Pay balance except a limited selection of items like Amazon Gift cards/ Gold coins /Bank cards

That was the last of the viable exit options to cash out your Amazon GC balance, in case you really had to (usually at a cost)

Gold coin option too removed now? BAD https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

Edit- Just checked and I guess for now we can pay for gold coins using GC balance. Won’t last forever if they have mentioned it. https://cdn1.desidime.com/assets/textile-editor/icon_sad.gif

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