Now, repay loans on Amazon Pay using Bharat BillPay: Here's how

Commenting on this development, Anuradha Aggarwal, Director User Growth and CMO, Amazon Pay India, said, “Our mission is to simplify digital payments for customers by creating safe, convenient and rewarding payment experiences. Some of the challenges which customers face while repaying their loans are unavailability of a secure digital payment platform and flexibility of payment options. Our collaboration with Bharat Bill Pay to enable and scale Loan Repayment category not only addresses this challenge effectively but also simplifies the experience, thereby making it one of the fast-growing categories on Amazon. We will continue to provide such customer-friendly solutions and further catalyze the digital payments revolution in India.”

On this partnership, Noopur Chaturvedi, CEO, NPCI Bharat BillPay Limited (NBBL), commented, “With this collaboration customer will experience a hassle-free and instant payment mechanism to pay their EMIs safely."

To avail this category on Amazon Pay, customers can select their bank or NBFC from the list and enter their loan account number or any other input required by the bank and click on 'Fetch EMI’ option. The information on pending loan/EMI will be displayed and the customers will proceed with the payment thereafter by selecting the payment method. All bill payment transaction confirmations are instantaneous on Amazon.in.

However, some banks may require the pre-defined Turn Around Time (TAT) to process and accept the payment after successful completion of the transaction.