Offer EMIs to your Customers.
EMI stands for Equated Monthly Installments. It is an easy way to reduce upfront payments and make products affordable through flexible payment options. EMIs will allow your customers to make regular monthly payments of manageable amounts as compared to a large payment at the time of purchase.
EMIs will help you accelerate your business growth by increasing customer conversion and offering flexible payment options to you customers. We also provide you with regular offers through our partners.
EMIs can be accepted on both Paytm Android and Linux POS. Merchants can accept EMIs through credit cards and debit cards.
Selected merchants can also accept EMIs via the Dynamic QR on their device.
We have a wide range of partners providing you with Credit Card EMIs. Our current partner list includes ICICI, Axis Bank, Yes Bank, RBL, Citibank, Standard Chartered Bank, HSBC, Kotak Mahindra Bank, SBI, IndusInd Bank, IDBI Bank and Bank of Baroda.
We have partnered with ICICI Bank for Debit Card EMIs.
Please follow the below steps to accept EMIs via Debit and Credit Cards -
1. Enter the total transaction amount. Press Collect.
2. Ask the customer to insert his Card. Available EMI options will be visible along with Pay in Full. Select EMI option.
3. Available EMI plan options (tenure and interest rate) will be visible on the device. Customer can select his preferred option.
4. Once plan is selected, check the total amount payable before processing.
5. Click on proceed and ask customer to enter his PIN.
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EMI plan tenures and interest rates vary from bank to bank. You can choose between 3, 6, 9, 12, 18 and 24 month plans.
You can activate the feature by giving us a missed call on 8860056046 or call our Business Helpdesk on 0120-4440440.
Merchant settlement process remains similar to daily settlement, and full transaction amount is received as per schedule. There is no difference in settlement process for EMI and non-EMI Card Transactions
An additional EMI fee of 0.5% is applicable per EMI transaction.
Minimum payment amount for Credit Card EMIs for each bank is provided below. This is applicable for all EMI tenures unless specified -
1. Axis - Rs. 3,000
2. Bank Of Baroda - Rs. 2,500
3. CITI - Rs. 3,000
4. HSBC - Rs. 2,000
5. ICICI - Rs. 1,500
6. Indusind - Rs. 2,000
7. Kotak - Rs. 500
8. RBL - Rs. 500
9. SBI - Rs. 3,000 for 3, 6, 9, 12 months tenure; Rs. 20,000 for 18 and 24 months tenure
10. SCB - Rs. 2,000
11. Yes bank - Rs. 1,500
12. IDBI - Rs. 3,000
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