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Today Date : Monday, June 24, 2024

Amazon Business launches instant credit facility

Amazon Business launches instant credit facility

On its sixth anniversary, Amazon Business has announced its integration with Amazon Pay Later to provide access to instant credit line to business customers.

 Started with around 14,000 sellers in 2017, the company is one of the largest aggregators of GST enabled selected in the country with over 19 crore products carried by over 10 lakh sellers. It caters to 99.5% pin codes across the country and has become one-stop destination for all business buying needs with features to support request for quote on bulk orders and shipping across multiple addresses.

 With the union government aimed to revamp the credit guarantee scheme for MSME sector, the integration with Amazon Pay Later will offer virtual credit to eligible customers which in turn will propel Amazon Business’ aim to digitize business customers across the country and play a crucial role in scaling their credit availability to MSMEs while ensuring a hassle-free payment experience.

 With Amazon Pay Later, business customers will be able to digitally sign up and get access to instant credit, thereby making seamless purchases on products across categories. In addition to an uninterrupted payment experience, they will also be able to use this credit to make bill payments on Amazon.in, buy Amazon Pay corporate gift cards, travel and insurance among others.  

 The initiative is aimed to help customers extend their monthly budgets for bulk purchases of products ranging from daily essentials, electronics, to corporate gifts for their businesses. The credit utilized can be successfully repaid in the subsequent month at no additional fees, or through easy EMIs up to a year at nominal interest rates with no hidden charges involved.

 Suchit Subhas, director of Amazon Business said, “We are grateful for the support we have received from our customers and selling partners in the past six years of our operations in India. Since inception, we have always aimed to bring together the largest assortment of GST enabled selection with competitive & transparent pricing, widest delivery coverage and innovations in digital procurement to make buying simple and efficient for businesses. Keeping our customers at the forefront, we are happy to introduce Amazon Pay Later to provide them access to credit, thereby ensuring greater affordability for them.”