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While introducing EMI on RuPay credit cards, Director of Credit and Lending at Amazon Pay Mayank Jain said that EMI will allow customers to have better access to credit, provide best-in-class value and help maximise savings

Festive Season 2023:  Amazon Pay starts EMIs on RuPay credit cards for online shopping

<h2>While introducing EMI on RuPay credit cards, Director of Credit and Lending at Amazon Pay Mayank Jain said that EMI will allow customers to have better access to credit, provide best-in-class value and help maximise savings</h2>

Online shopping:&nbsp;In a festive boost, Amazon Pay has introduced 'EMI on RuPay credit cards' across eight prominent issuing banks.
<h3>EMI on RuPay Cards</h3>
As per Amazon, during the first 48 hours of the Amazon Great Indian Festival, EMIs emerged as the most preferred payment mode with 1 in 4 shopping orders placed on instalments. 3 in 4 EMI orders were also on No Cost EMIs.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/amazon-great-indian-festival-2023-know-the-best-deals-and-discounts-on-top-brands-here-1697084423786">Amazon Great Indian Festival 2023: Know the best deals and discounts on top brands here</a>
Director of Credit and Lending at Amazon Pay Mayank Jain has said that the emi will allow customers to have better access to credit, provide best-in-class value and help maximize savings. He further added that this will drive affordability and convenience of online shopping for customers across India
"The introduction of EMI on RuPay credit cards in partnership with NPCI will allow customers better access to credit, provide best-in-class value and help maximize savings. This will drive affordability and convenience of online shopping for customers across India, especially during the festive period," said Mayank Jain, Director - Credit and Lending, at Amazon Pay
<h3>Amazon's Great Indian Festival Sale</h3>
As per a press release, Amazon's great Indian Festival Sale, witnessed the biggest ever 48 hours of shopping, recording around 9.5 crore customer visits. The shopping by prime members also surged 18 times in the first 24 hours. This is the highest sales reported by Amazon so far.&nbsp;
80% of the customers were from non-metro cities and about 65% of the sellers were from tier-2 and tier-3 cities.

RBI has fined Amazon Pay India more than Rs. 3.06 crore for non-compliance with certain provisions related to PPIs and KYC direction.

 RBI fines Amazon Pay India over ₹3 crore for non-compliance with KYC regulations

RBI has fined Amazon Pay India more than Rs. 3.06 crore for non-compliance with certain provisions related to PPIs and KYC direction.

RBI has fined Amazon Pay India more than Rs. 3.06 crore for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. The RBI found that Amazon Pay India had failed to adhere to KYC requirements as directed by the RBI. After being notified of non-compliance, Amazon Pay India was given an opportunity to respond and provide reasons why a penalty should not be imposed.
However, the RBI concluded that the non-compliance charge was substantiated and imposed a monetary penalty based on deficiencies in regulatory compliance. The penalty does not question the validity of any customer transaction or agreement made with Amazon Pay (India). Amazon Pay is Amazon's digital payment division. The RBI enforced the penalty under Section 30 of the Payment and Settlement Systems Act, 2007.

Amazon is set to be not just your personal shopper but also your wealth advisor. The tech giant's arm Amazon Pay has tied up with Indian startup&nbsp;Kuvera&nbsp;to offer wealth management services.
Amazon Pay commenting on the tie up that gives them access to over 50 million customers said that Kuvera&nbsp;with their unique offering can help customers grow while making decisions on their own wealth management. &nbsp;
Kuvera is a robo advisory platform for personal financial planning and investing that wants consumers to be their own wealth managers. It uses technology to technology to steer users towards actions that were needed based on their specified financial goals.&nbsp;Amazon's fintech move comes days after Google Pay's&nbsp;offering of FDs&nbsp;for customers.While Amazon's money arm ties up with Kuvera&nbsp;it's investment arm is also betting big on Smallcase a new age investment platform backed by Zerodha&nbsp;founders.&nbsp;

Amazon can be your wealth manager now, ties up with startup Kuvera

Amazon can now be your wealth manager! The next big move for the tech giant in India.&nbsp;

Amazon Steps into Wealth management

Amazon's fintech move comes days after Google Pay's&nbsp;offering of FDs&nbsp;for customers.

Amazon is set to be not just your personal shopper but also your wealth advisor. The tech giant's arm Amazon Pay has tied up with Indian startup&nbsp;Kuvera&nbsp;to offer wealth management services.
Amazon Pay commenting on the tie up that gives them access to over 50 million customers said that Kuvera&nbsp;with their unique offering can help customers grow while making decisions on their own wealth management. &nbsp;
Kuvera is a robo advisory platform for personal financial planning and investing that wants consumers to be their own wealth managers. It uses technology to technology to steer users towards actions that were needed based on their specified financial goals.&nbsp;Amazon's fintech move comes days after Google Pay's&nbsp;offering of FDs&nbsp;for customers. While Amazon's money arm ties up with Kuvera&nbsp;it's investment arm is also betting big on Smallcase a new age investment platform backed by Zerodha&nbsp;founders.&nbsp;

Amazon Great India Festival sale date revealed, Make In India focus

Online superstore Amazon.in has revealed that its festive sale under the flagship of 'Great India Festival' will start from October 17. As usual, Prime members will get access to all offers from October 16.&nbsp;
The retail platform claims that over 1 lakh&nbsp;small and medium business (SMEs) have joined Amazon and will get to sell their products to new customers to boost their business in these testing times.&nbsp;
'Customers can look forward to over 900 new product launches from top brands and win&nbsp;daily shopping rewards worth&nbsp;₹10,000, send gifts and shagun money with Amazon Pay' during the shopping carnival, Amazon said in a release.&nbsp;

https://www.youtube.com/watch?v=t6J-6GFUSn0
Amazon's Great India Festival sale to start from Oct 17
Amazon claims 1 lakh+ SMEs&nbsp;have joined the&nbsp;shopping event
900 new products launches from top brands on offer&nbsp;

Online superstore Amazon.in has revealed that its festive sale under the flagship of 'Great India Festival' will start from October 17. As usual, Prime members will get access to all offers from October 16.&nbsp;
The retail platform claims that over 1 lakh&nbsp;small and medium business (SMEs) have joined Amazon and will get to sell their products to new customers to boost their business in these testing times.&nbsp;
'Customers can look forward to over 900 new product launches from top brands and win&nbsp;daily shopping rewards worth&nbsp;₹10,000, send gifts and shagun money with Amazon Pay' during the Amazon Great India Festival (shopping carnival), Amazon said in a release.&nbsp;

amazon pay

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