{"id":1874,"date":"2019-08-19T12:32:51","date_gmt":"2019-08-19T07:02:51","guid":{"rendered":"https:\/\/rzpwp.blog\/?p=1874"},"modified":"2025-04-23T17:43:09","modified_gmt":"2025-04-23T12:13:09","slug":"cardless-emi-payment-method","status":"publish","type":"post","link":"https:\/\/razorpay.com\/blog\/cardless-emi-payment-method\/","title":{"rendered":"Payment Method for Generation Now: Cardless EMI"},"content":{"rendered":"

I remember, a couple of years ago, I was window shopping online and came across a limited edition Sega Gamer Boxset. It had everything–a funky console, stickers for laptops, rare collectable items and a limited edition badge to prove my rank amongst my fellow gamers.\u00a0<\/span><\/p>\n

My euphoria, though, was short-lived, till I discovered the price tag. It asked for an arm and a leg.\u00a0<\/span><\/p>\n

The only EMI<\/a> option available on the product at that time was on credit cards. Unfortunately, I didn’t have a credit card and there were no other options for me to make the console mine.<\/span><\/p>\n

It wasn\u2019t possible at that time, but today, a business can provide its customers like me with the option to make EMI purchases even if they don\u2019t own a credit or debit card. This is what we call Cardless EMI.<\/span><\/p>\n

What is Cardless EMI?<\/b><\/h2>\n

Cardless EMI is a checkout payment method<\/a> that allows customers to convert their payment amount to EMIs. The user doesn\u2019t require a debit or credit card. The payments are made via credits approved by the supported Cardless EMI payment partner.\u00a0<\/span><\/p>\n

To improve online payment<\/a> flexibility, the Cardless EMI option<\/a> is available on Razorpay Checkout with custom UI integration methods for web, mobile web and mobile (Android and iOS) platforms.<\/span><\/p>\n

Cardless EMI is a new form of payment method for consumers of Razorpay merchants where users can complete the payment via approved credits from various EMI payment partners like ZestMoney, EarlySalary and InstaCred.<\/span><\/p><\/blockquote>\n

Read More About: What is Deferred Payment and How Does it Work?<\/a><\/span><\/p>\n

Customer journey using Cardless EMI<\/b><\/h2>\n

Since this is an alternate payment method to credit\/debit card, netbanking, wallets and UPI, the end consumer will be given an option to choose Cardless EMI as a payment option during checkout.\u00a0<\/span><\/p>\n

However, it is vital that a customer is registered with one of the preferred Cardless EMI payment partners, and must have an approved credit limit from the partner.<\/span><\/p>\n

Here\u2019s how the payment flow works on Razorpay checkout:<\/span><\/p>\n

Step 1<\/b>: Enter the required details on the checkout form and select EMI<\/span><\/p>\n

\"cardless<\/a><\/p>\n

Step 2<\/b>: Select your cardless EMI service provider<\/span><\/p>\n

\"cardless<\/a><\/p>\n

Step 3<\/b>: Authorise account via the OTP sent to your registered phone number<\/span><\/p>\n

\"cardless<\/a><\/p>\n

Step 4<\/b>: Select an EMI plan to complete the transaction<\/span><\/p>\n

\"cardless<\/a><\/p>\n

After the payment is completed, the user is redirected to the merchant screen, and Razorpay settles the amount to the merchant in bulk.<\/span><\/p>\n

Finally, the EMI is deducted on a monthly basis as per the plan selected by the end customer, and the details are shared via email and SMS.\u00a0<\/span><\/p>\n

Cardless EMI – Integration<\/b><\/h2>\n

If you are using Razorpay Checkout, there is no need for any separate integration or change to the existing integration.<\/span><\/p>\n

But if you are integrating using the Custom UI SDK, after the customer selects the EMI payment method (step 2 – shown above), they are redirected to a Razorpay hosted page where they enter the OTP they received on their registered phone number and proceed to select the desired EMI plan.<\/span><\/p>\n

Here\u2019s the flow on Razorpay Custom UI\/S2S Integration<\/a>:\u00a0<\/span><\/p>\n

\"cardless<\/a><\/p>\n

Benefits of using Cardless EMI<\/b><\/h2>\n\n\n\n\n\n\n\n\n\n
Businesses<\/strong><\/td>\nEnd Customers<\/b><\/td>\n<\/tr>\n
Increases buying capacity for end customers\u00a0<\/span><\/td>\nFlexible EMIs to suit specific consumers\u00a0<\/span><\/td>\n<\/tr>\n
Reach 5 million+ consumers across India<\/span><\/td>\nNo credit\/debit card or credit score required<\/span><\/td>\n<\/tr>\n
A success rate of 93% for approved customers<\/span><\/td>\nQuick loan approval for online shopping<\/span><\/td>\n<\/tr>\n
Frictionless payment\u00a0<\/span><\/td>\nCredit limit increases as per transaction history<\/span><\/td>\n<\/tr>\n
No restriction on product categories\u00a0<\/span><\/td>\nInstant approval and easy account opening<\/span><\/td>\n<\/tr>\n
Increase in average order value<\/a><\/span><\/td>\nNo upfront prepayment penalties\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Well, here it is, the dream payment method, which defies every new solution that has emerged to maximise your customer\u2019s shopping experience. And improve your business metrics to boot.\u00a0<\/span><\/p>\n

Also read: 7 Reasons Why Razorpay is Right for You<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Businesses using Razorpay can give their consumers the option to pay through EMI without a credit or debit card.<\/p>\n","protected":false},"author":34,"featured_media":1883,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[43,51],"class_list":{"0":"post-1874","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-payments","8":"tag-online-commerce","9":"tag-payments"},"_links":{"self":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/1874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/comments?post=1874"}],"version-history":[{"count":3,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/1874\/revisions"}],"predecessor-version":[{"id":22238,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/posts\/1874\/revisions\/22238"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media\/1883"}],"wp:attachment":[{"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/media?parent=1874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/categories?post=1874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/razorpay.com\/blog\/wp-json\/wp\/v2\/tags?post=1874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}