Amazon Pay Full KYC with Rs. 1 lakh limit

VivekA

Regulars
Feb 5, 2019
81
13
I don't care for Amazon pay or any of the wallets. Problem is credit card points are IMO best redeemed as Amazon GCs and to add these, I need to complete kyc .
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,661
12,751
Gurugram
in my case sadly, amazon gift cards were both gone from stanchart and yes bank when i last checked.
 

ajgamer

Regulars
Dec 28, 2014
1,104
103
I didn't get any of your point @Sushubh

1. How come Amazon Pay would help you in cashback? I make in cashback whenever there is some offers. I don't make anything if I keep money in the Pay. (I've good amount in my Pay Balance).

2. I pay via. my Card Directly. Why I would pay to the Amazon Pay first when I can simply buy from my card directly.

You are can make more in cashback than interest. Plus 1L limit means you can make more transactions. You don't have to keep money. Amazon Smilecodes are appearing in retail stores.
Plus 10k and 1l are limits set by rbi. You can't even buy a phone with 10k limit.

Amazon pay has introduced EMI feature. They are aiming it at people who don't use credit cards.
 


Sushubh

Administrator
[OP]
Oct 29, 2004
413,661
12,751
Gurugram
amazon pay had an offer where if you subscribe to amazon pay autopay thing, you get 2% off on all your payments through it.
so basically, now i get 2% off on all my orders on amazon. i don't even have to keep the money in amazon pay. if my balance is low, i just manually add funds to it and buy using it.
not sure if this offer is still on.
so basically... paying through credit card directly costs me 2% on every order.

apart from that... amazon pay has a 10K deposit limit right now without kyc. by doing kyc, the limit increases to 1L. which means you can do more shopping through amazon pay. saving money on even more orders. 10K was limiting the pay experience. a budget smartphone? nope. a budget television? nope. with 1L limit, you can actually use pay for more orders. pay for bills. pay at retail stores. and avail different cashback offers which could very well be worth more than 4-5% on money that you would otherwise get from a savings account from bank.
 

ajgamer

Regulars
Dec 28, 2014
1,104
103
I already get 5% off my orders on Amazon. :)

Without any of this Amazon Pay thing.
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,661
12,751
Gurugram
not everyone has access to specific credit card deals. like i cannot get the amazon pay credit card that would get me 5% on all transactions.
 


ajgamer

Regulars
Dec 28, 2014
1,104
103
Let me know how can one signup for the 2% thing?

Amazon Pay Credit Card is available for the Power Users with Good CIBIL Score. I've a good credit history with ICICI. Already have multiple ICICI's Credit Card.
 

Sushubh

Administrator
[OP]
Oct 29, 2004
413,661
12,751
Gurugram
i don't have an existing credit card with icici. they are only targeting icici credit card holders right now.
 

ajgamer

Regulars
Dec 28, 2014
1,104
103
^ Not True. They are targeting the Power Users of Amazon India.

I've like 3 Accounts with Amazon India and Some other Accounts for my Family Members.

All of them have ICICI Credit Card in them.

Account with a lot of buying history got the offer to apply for that card.