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Available in🇮🇳 India

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Common

Cardless EMI is a digital EMI option that allows your customer to pay in installments without access to a credit or debit card. Usually, customers prefer this method for making high-value payments.
No, instant refunds are not supported on EMI, Cardless EMI and Pay Later.
Raise a request with our Support team to disable payment methods.

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Pay Later

Pay Later is available as a payment option at Razorpay checkout. To make a payment, customers must be registered with Razorpay’s Pay Later partners - LazyPay and PayPal.
The standard interest rates charged by the providers for Pay Later are given below:* Interest rates are determined on a case-to-case basis. Contact support for more information.
Watch Out!All interest rates mentioned above are per annum.

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EMI

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Common

Yes, they can avail offers for EMI payments at checkout. Know more about creating EMI Offers.
Yes, you receive the full amount at once and the provider/bank converts it into EMI for the customer.
The loss is borne by the provider/bank. You would have already gotten the full amount.

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Debit Card EMI

Eligibility is checked using the card number and registered phone number. Therefore, customers should always use the phone number registered with the bank while making a payment.
None. Customers need not have any minimum balance in their accounts while placing the order. However, they need to ensure that their accounts have sufficient funds to pay the EMI due every month.
Customers can check their eligibility by sending the SMSDCEMI last 4 digits of Debit Card number to 56767, from their registered mobile number.
To avail Debit Card EMI, your customers should pass the eligibility criteria set by their banks. The minimum order amount on the Checkout should be ₹5000 (for HDFC and IndusInd debit cards).
The interest rates applied by each bank for Debit Card EMIs is provided below.
  • The minimum transaction amount for which EMIs can be availed on debit cards can vary for each bank.
  • The maximum transaction amount depends upon the available pre-approved limit for the customer.
No, EMI plans cannot be changed after an order is placed.
No, the customers need not pay any down-payment amount to avail the Debit Card EMI option.
Yes, Debit Card EMIs can be foreclosed after clearing the first three EMIs.
The Debit Card EMI payment method is not allowed for certain business categories. Check the relevant Category section below for the list of sub-categories and support status. Debit Card EMI is not allowed for categories with N as the status.
Watch Out!Due to our partner bank restrictions, the Debit Card EMI payment methods may not be available to all the Merchant Categories and Subcategories.

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Credit Card EMI

The interest rates charged by various banks for each of the tenures are provided for your reference. The minimum transaction amount for which EMIs are applicable can vary for each bank. The maximum amount is dependent on the card limit set by the issuing bank.
The interest rates charged by other cards for EMI is given below.

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Cardless EMI

The standard interest rates charged by various banks for cardless EMI are provided for your reference.
The standard interest rates charged by the providers for Pay Later providers are given below:* Interest rates are determined on a case-to-case basis. Contact support for more information.
Watch Out!All interest rates mentioned above are per annum.

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Eligibility Check

Razorpay has partnered with various Debit Card EMI, Cardless EMI, and Pay Later providers. The providers determine customer eligibility for payment instruments based on their respective pre-defined criteria. Razorpay aggregates the information and presents customers with eligible payment options on checkout.The customer proceeds with the selected payment option on Razorpay checkout if eligible. If ineligible, alternate options are presented.
The pre-defined criteria are specific factors each provider uses, such as repayment history, digital footprint, and bureau score, to assess a customer’s creditworthiness.
The providers determine customer eligibility based on their mobile number and order amount for the requested transaction.
The customer can view the reason for ineligibility and choose to:
  • Use a different mobile number for the chosen payment instrument and try again.
  • Opt for a different payment instrument/method.
You can view the list of reasons for ineligibility and their descriptions.
You can view the minimum and maximum order amount for the following payment methods. However, ensure you check the providers on which eligibility check is performed.Please note that not all the providers listed under the above methods are applicable for an eligibility check.