Amazon Pay Full KYC with Rs. 1 lakh limit

[Smh]

just got an email my minimum kyc is expiring so I will have to book an appointment to complete full kyc to continue using Amazon pay 😕.

There is an option to upload docs through amazon app but the delivery agent should be present at that time.

Amazon may loose some Amazon Pay using customers.

 

[mhsabir]

For me it says appointment not available in my area AFTER I uploaded all docs. .

 

[Sushubh]

it also mentions that you can do verification with an Amazon delivery guy at the time of delivery! so maybe that option could be used?

i have had the visit from their guy. but the backend shows no indication of manual verification done. so not even sure if i need to do it again.

 

[Sushubh]

 

[VivekA]

But I think , no fresh money can be added to Amazon pay if kyc is not done?

 

[Sushubh]

hard to say. should have asked. i have a feeling though that they are just pushing this scaring people that they would not be able to use Amazon pay at all. they need people to have higher limits before they expand into retail segment. amazon is basically going after Paytm here. before reliance starts re-focusing on jiomoney.

 

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[VivekA]

Damned voter id card server in Mumbai is down so card can't be updated. I think I'll just go through with the existing card, hopefully the agent will be a *.

 

[Deleted member 63558]

Why would you want to have 1 Lac sitting in your Amazon Pay Balance? I would rather keep that in Savings Account to enjoy some interest.

It's no sense to me why People keep balance in Paytm too.

 

[Sushubh]

You 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.

 

[Sushubh]

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.

 

[VivekA]

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]

in my case sadly, Amazon gift cards were both gone from stanchart and yes bank when i last checked.

 

[Deleted member 63558]

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]

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.

 

[Deleted member 63558]

I already get 5% off my orders on Amazon. 🙂

Without any of this Amazon Pay thing.