Amazon Pay UPI will have credit options through NPCI soon

Amazon Pay UPI, the widely acclaimed payment service offered by Amazon, is all set to offer credit options to its customers in India through a strategic partnership with NPCI. How to use credit on Amazon Pay UPI?

by Sadikaa Updated: 17 Apr, 2024, 18:13 IST
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Amazon Pay UPI, the widely acclaimed payment service offered by Amazon, is all set to offer credit options to its customers in India through a strategic partnership with the National Payments Corporation of India (NPCI). This partnership will enable Amazon Pay users to access credit options via the popular Unified Payments Interface (UPI) platform, which will make their shopping experience even more convenient. Vikas Bansal, the director of Amazon Pay India, is enthusiastic about this move, emphasizing how it will enhance the overall user experience. Let’s take a look at all the details of the Amazon Pay UPI credit option and How to use credit on Amazon Pay UPI.

Amazon Pay UPI will have credit options through NPCI soon

Amazon Pay is expanding its range of financial services in India. Recently, it acquired a payment aggregator license from the Reserve Bank of India (RBI), which paves the way for the launch of an upcoming service. Amazon Pay is partnering with NPCI, RBL Bank, and ICICI Bank for various payment options, including UPI payments and FASTag recharge. Additionally, Amazon Pay has introduced a co-branded credit card with ICICI Bank to provide users with more payment options. Overall, these partnerships and initiatives aim to offer a more convenient and diverse range of payment solutions to Amazon Pay users in India.

Moreover, NPCI (National Payments Corporation of India) has recently announced new features for UPI-linked RuPay credit cards, which is great news for digital payment users. These features will be implemented starting May 31 and will include some exciting enhancements such as EMI facilities, UPI AutoPay for credit card bill settlements, and increased credit limits. Amazon Pay has also been working towards providing a seamless payment experience for its users. They have partnered with Axio, IDFC FIRST Bank, and Karur Vysya Bank to offer Buy Now, Pay Later services, which have already received 9 million customer sign-ups. Moreover, Amazon Pay is easily accessible for users thanks to partnerships with over 10,000 online merchants and over 8.5 million physical retailers worldwide.

Amazon Pay UPI is dedicated to giving its users the greatest possible payment experience. Plus, it is anticipated that Amazon Pay will provide a wider range of financial services, including credit options on UPI, as a result of its ongoing efforts to innovate and work with other financial institutions. Over 100 million people use Amazon Pay UPI, so the platform is always changing to meet their wide variety of needs. Services like Amazon Pay Later, which allows customers to make purchases through equated monthly instalments, exemplify this commitment to innovation. Their goal is to improve the overall financial ecosystem and drive sustainable growth even as they wait for regulatory approval.


How to use credit on Amazon Pay UPI?

To use credit on Amazon Pay UPI, you need to set up your Amazon Pay Wallet UPI ID.

  • When you use Amazon Pay Wallet UPI ID for transactions, the money is debited or credited into your Amazon Pay Wallet, not your bank account.

  • To set up your Amazon Pay Wallet UPI ID, visit the "Add Money" page and follow the instructions.

  • Alternatively, you can use your Amazon Pay UPI ID (mobile#@apl) for transactions directly from your bank account.

  • You do not need to link your bank account separately to set up your Amazon Pay balance UPI ID.

Make your shopping more affordable by saving with Amazon Pay Coupons & Offers today!


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FAQ's

1. How do I enable UPI on Amazon Pay?

To enable UPI on Amazon Pay, you can visit the Amazon Pay page and set up Amazon Pay UPI. If you have already signed up for UPI, you can enable it with just one click by clicking on the "UPI Number" widget on the page. You can use either your mobile number or an 8-11 digit number to receive money.

2. Can I use Amazon Pay balance for UPI?

Amazon Pay balance can be used to pay bills or shop on over 10,000 apps and select stores. After registering for the Amazon Pay balance UPI handle, you can also utilize your Amazon Pay balance at any offline or online merchant that accepts payment through UPI.

Deal Cadet
Sadika is a content writer with over three years of experience in Ecommerce, Tech, Finance, Skin care and Beauty, Travel, and Psychology. Her mission is simple: to bring you the best information possible.
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