Amazon Pay EMI vs Flipkart Debit Card EMI: Who Offers The Best Deal?

The trillion dollar US e-commerce giant Amazon is taking India very seriously. The company knows the country is the next big thing on the planet as both America and China are inching towards a saturated phase.

After its recent launch of Hindi interface for Amazon, the company has now rolled out a special EMI option in India called Amazon Pay EMI for non-credit card holders.

The service is exclusive to mobile users and it enables buyers to purchase anything they want and pay later in installments. As a surprise, the Amazon Pay EMI feature will go against its rival Flipkart and it’s Debit Card EMI feature.

Amazon Pay EMI: What’s It All About?

The Amazon Pay EMI feature will enable users to get instant credit on Amazon. Users who opt to pay with Amazon Pay EMI will get the option to pay via EMIs using their debit cards.

To offer seamless credit facility to its users, the company has partnered with Capital Float which will let users to link their debit cards to pay their EMIs directly.

Users will be able to make payments via their debit cards over EMI in a time period between 3 months to 12 months. The Amazon Pay EMI feature is eligible for transactions above Rs 8,000 only, while the maximum limit is Rs 60,000.

Also, the Amazon EMI Pay feature will not be available with purchases made with any exchange offer.

Amazon EMI Pay is now available on the EMI payments of these banks:

• HDFC Bank
• ICICI Bank
• Canara Bank
• CITI Bank
• Kotak Mahindra Bank

Amazon India has said that it will add more banks soon to facilitate the credit feature to all its users with Amazon Pay EMI payments.

How To Register For Amazon Pay EMI?

You cannot use the Amazon Pay feature unless you are registered. You need to validate your details and information before you make a purchase on EMI via Amazon Pay EMI.

Details Validation

You will have to provide your PAN card number and Aadhaar card for verification. An OTP will be sent to the Aadhaar-linked mobile number to verify your details.

Credit Limit

The credit limit will be displayed on your screen and your credit on Amazon will be decided by Capital Float based on the data.

Loan Agreement

After your credit limit is decided, you now need to accept the Amazon Pay EMI limit on your number and loan agreement.

Link Bank Account

Finally you now need to provide your debit card details and link your bank account from where the EMI will be deducted.

Flipkart Debit Card EMI: Threat For Amazon’s EMI Feature?

Before Amazon, India’s largest e-commerce company, Flipkart has already launched its own credit facility for non-credit card users, the Flipkart Debit Card EMI.

Flipkart also offers a similar feature where buyers can buy their favourite products without a credit card. Unlike Amazon Pay EMI, the Flipkart Debit Card EMI feature come pre-approved by its own partner banks.

Also, there’s a few key differences in between Amazon EMI Pay and Flipkart Debit Card EMI feature.

Amazon EMI Pay vs Flipkart Debit Card EMI: In-Depth Comparison

As the two e-commerce behemoths go against each other once again, here’s a full comparison on who offers the best EMI option with debit cards.

Credit Facility	Amazon EMI Pay	Flipkart Debit Card EMI
Approval	Approved By Capital Float	Pre-Approved
Minimum Purchase	Rs 8,000	Varies From Bank To Bank
Maximum Purchase	Rs 60,000	Rs 1,00,000
Eligible Banks	HDFC Bank, ICICI Bank, Canara Bank, CITI Bank & Kotak Mahindra Bank.	Axis Bank, State Bank of India (SBI), HDFC Bank & ICICI Bank
EMI Payback Period	3 Months To 12 Months	3 Months To 12 Months
Availability	Only Mobile	Both Mobile & Desktop
Eligibility	No Documentation Or Processing Fee	Documentation Required, But Zero Processing Fee

Amazon Pay EMI is currently available for select users only. Flipkart Debit Card EMI facility can be availed by texting <DCEMI> to 57575 from your registered bank account mobile number.