Cardless EMI

Introduction#

Cardless EMI is a checkout payment method that allows your customers to convert their payment amount to EMIs, without the need of a Debit or Credit card. Cardless EMI payments are made via credits approved by the supported cardless EMI payment partner.

The Cardless EMI option is available on Razorpay Checkout and Custom UI integration methods for Web, Mobile-Web and Mobile (Android and iOS) platforms.

Note:
It is important that a customer is registered with the preferred cardless EMI payment partner before making the payment. The payment would fail otherwise.

Request this feature:
To enable this feature on your checkout, you can raise a request on our support page.

Payment Flow#

The payment flow for a customer using cardless EMI option is as follows:

  1. The customer enters the required details on the Checkout form and selects EMI.

  2. The customer then selects a preferred cardless EMI service provider.

    Tip
    There are two EMI payment methods available on Checkout:
    - EMI via Cards
    - Alternate EMI methods

  3. The customer authorizes the account via the OTP sent to the registered phone number.

  4. The customer selects an EMI plan to complete the transaction.

By the end of the EMI cycle, customer pays the total order amount with additional interest (if any) to the cardless EMI provider. However, merchants are settled in full by the cardless EMI service provider at beginning of the cycle.