Amazon Pay Later(2022) review: The Pros and Cons

Are you looking for a way to buy the things you need without having to worry about how you’re going to pay for them? If so, Amazon Pay Later may be the perfect solution for you

. In this post, we’ll discuss what Amazon Pay Later is, how it works, and the pros and cons of using it.

We’ll also cover some Amazon Pay Later alternatives and answer some frequently asked questions.

1.What is Amazon Pay Later?

Amazon Pay later app
Amazon Pay later app

Amazon Pay Later is a service that allows you to buy the things you need now and pay for them later, interest-free. You can use Amazon Pay Later to shop on Amazon.in, pay your utility bills, book travel tickets, and more.

The Amazon Pay Later is offered in partnership with Capital Float or IDFC FIRST Bank, So there partner will decide your credit limit and credit history will be checked by them.

2.How Does Amazon Pay Later Work?

Once you’ve been approved for Amazon Pay Later, you can shop on Amazon.in and pay for your purchases later. To use Amazon Pay Later, simply select it as your payment method at checkout. You’ll then have the option to pay your bill in full next month or pay it over EMIs ranging from 3 to 12 months.

You can track your purchases, repayments, and limits history from a simplified dashboard for this payment mode.

3.What are the Pros of Amazon Pay Later?

There are several advantages to using Amazon Pay Later, including:

You do not need Credit card

If you do not have a credit card or if you do not want to use your credit card, you can use Amazon Pay Later. As we all know, credit cards is not available for everyone and the application process is not that simple. So, this could be a good alternative for people who do not have credit cards.

No interest or hidden fees

Amazon Pay Later does not charge any interest or hidden fees. This is a big advantage over using a credit card, which often charges high interest rates.

Flexible repayment options

Another big advantage of Amazon Pay Later is that it offers flexible repayment options. You can choose to pay your bill in full next month or you can choose to pay it over EMIs ranging from 3 to 12 months. This flexibility can be helpful if you’re on a tight budget and you need some time to pay off your purchase.

No pre-closure charges.

Another advantage of using Amazon Pay Later is that there are no pre-closure charges. This means that you can pay off your purchase at any time without having to worry about additional fees.

Simplified tracking of expenses

One of the benefits of using Amazon Pay Later is that you can track your purchases, repayments, and limits history from a simplified dashboard. This makes it easy to keep track of your spending and ensure that you’re staying within your budget.

Instant decision on your credit limit by the lender.

Instant decision on your credit limit means you will know exactly how much you can spend using Amazon Pay Later. This can be helpful in budgeting and ensuring that you do not overspend.

4.What are the Cons of Amazon Pay Later?

There are also some disadvantages to using Amazon Pay Later, including:

It’s not available for everyone

Amazon Pay Later is not available to everyone. In order to use the service, you must have a valid Indian mobile number and a credit score of 750 or above. If you do not meet these criteria, you will not be able to use Amazon Pay Later.

You can not pay electricity bill payment of Rs.10,000 and above

You can’t pay electricity bill payments of Rs.10,000 and above on Amazon Pay Later. This could be a problem if you’re trying to pay a large bill, such as an electricity bill, with Amazon Pay Later.

It’s not available for all types of purchases

Amazon Pay Later is also not available for all types of purchases. Below are some of the things you can’t buy with Amazon Pay Later:

  • Jewelry
  • Amazon Pay Gift Cards including physical gift cards and email gift cards
  • Amazon Pay balance top-up
  • Products from Amazon Global Store or Out of Country or Overseas Merchants
  • Bullion (Gold and silver)
  • Credit Card bill payment

Read More: Amazon Pay Later vs. Paytm Postpaid

5. Amazon Pay Later Alternatives

If Amazon Pay Later does not suit your needs, or if you’re not eligible to use the service, there are several other Amazon Pay alternatives you can consider. These include:

#1. Paytm Postpaid

If you’re looking for an Amazon Pay alternative that offers more flexibility, you may want to consider Paytm Postpaid. With this service, you can pay your bills in full or over EMIs, and you have the option to choose your own repayment schedule. You can also track your purchases and repayments from a simplified dashboard.

#2. Bajaj Finserv EMI Network Card

If you’re looking for an Amazon Pay alternative that offers more flexibility, you may want to consider the Bajaj Finserv EMI Network Card. With this card, you can shop at over 60,000 partner stores and pay for your purchases in EMIs. You can also choose your own repayment schedule and track your purchases and repayments from a simplified dashboard.

#3. Zest Money

If you’re looking for an Amazon Pay alternative that offers more flexibility, you may want to consider Zest Money. With this service, you can pay for your purchases in EMIs, and you have the option to choose your own repayment schedule. You can also track your purchases and repayments from a simplified dashboard.

#4. Flipkart Postpaid

Flipkart also offers a postpaid service, called Flipkart Paylate. With this service, you can pay your bills in full or over EMIs, and you have the option to choose your own repayment schedule. You can also track your purchases and repayments from a simplified dashboard.

and so on… you can read the best paylater service in India from here.

6. Who should use Amazon Pay Later

Amazon Pay Later is a great option for:

#1. Shoppers who want to shop online without having to worry about incurring any additional costs

#2. Shoppers who want to pay for their purchases in EMIs

#3. Shoppers who want to track their purchases and repayments from a simplified dashboard.

#4. Want bulild credit score

7. Who should not use Amazon Pay Later

Amazon Pay Later is not a good option for:

#1. Shoppers who want to pay for their purchases in full

#2. Shoppers who want to shop online without having to worry about incurring any additional costs.

#3. Fear about late fees

7. How to apply for Amazon Pay Later

If you meet the eligibility criteria, you can apply for Amazon Pay Later by following these steps:

Visit the Amazon Pay Later website and log in with your Amazon account and follow below steps.

Step 1: Complete your KYC

In order to use Amazon Pay Later, you must complete your KYC. This is a quick and simple process that only takes a few minutes. To complete your KYC, you’ll need to provide your name, date of birth, and contact information. You’ll also need to provide a copy of your PAN card and a selfie with your PAN card.

Step 2: Accept Terms

Once you’ve completed your KYC, you’ll need to accept the Amazon Pay Later Terms and Conditions. This will outline the full terms and conditions of the service, and it’s important to read these before you agree to them.

After that you will have to set up a 4-digit PIN, which you’ll use to make payments with Amazon Pay Later.

Once you’ve completed these steps, you’ll be ready to use Amazon Pay Later!

8.Is PAN Card mandatory?

Yes, PAN card is mandatory to avail Amazon Pay Later service, beacuse KYC is essential to using the service.

9.Conclusion

Overall, Amazon Pay Later is a great option for shoppers who want to pay for their purchases in EMIs, track their purchases and repayments from a simplified dashboard, or build up their credit score. The service is not available to everyone, so be sure to check the eligibility criteria before applying.

If you meet the criteria, simply follow the steps outlined in this article to get started.

Thanks for reading!

If you have any questions, please feel free to leave a comment below.

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