About Affordability Suite

Provide affordable payment solutions like Affordability Widget, Eligibility Check, Offers, EMIs, and Pay Later methods to your customers.


Use the Razorpay Affordability Suite to attract customers and increase sales by providing:

View the Razorpay Affordability suite

What's New

  • Low Cost EMI: Offer upfront discounts by covering part of the interest cost, with customers responsible for the remaining interest. Know more about . (Sept 2023)
  • Eligibility Check: Razorpay offers a pre-eligibility check on payment instruments at checkout. By assessing eligibility upfront, your customers can choose an eligible payment option and complete the payment. Know more about . (June 2023)
  • Integrate with Affordability Widget: Influence your customer's purchase decisions before they reach checkout by displaying various affordable payment options and offers. You can integrate the widget on your:

Affordability Widget

  • Enable discovery of affordable payment options early on
    Spread awareness about affordability-based payment methods and offers available to your customers even before they reach checkout using the Affordability Widget.
  • Improve conversion rates
    The availability of affordable payment options such as EMI and Pay Later will help boost conversion rates enabling customers to make more informed buying decisions.
  • Increase Average Order Value
    With affordable payment options, businesses typically see a 30% higher average order value.
  • Easy Integration
    Integrating with the Razorpay Affordability Widget is effortless, involving only a few lines of code.

Eligibility Check

  • Higher Success Rate
    Increase the success rate of transactions with Affordability instruments by displaying only eligible payment options, thereby reducing failed transactions due to ineligibility.
  • Enhance Customer Experience
    Deliver a seamless customer experience through an intuitive UI that enables customers to discover and choose the most affordable payment options.

Payment Methods

Following are the affordability payment methods:

EMIs

  • Easy EMI Repayments
    Reduce the upfront amount to be paid by your customers with easy-to-manage EMI repayments.
  • Cardless EMIs
    Target a large segment of consumers who do not have a credit or debit card.
  • Increase sales
    Grow sales by allowing customers to make high-value purchases with low upfront payments.
  • Increase Average Order Value
    EMI options lead to higher average order value, thereby boosting sales.

Pay Later

  • Best in class
    Razorpay has the widest coverage of Pay Later partners amongst all payment solutions providers. Enjoy a success rate of over 90% (best in class).
  • Flexible Repayments
    Customers can buy now and pay later, with various payment options ranging from a few weeks to several months.
  • Interest-free Options
    Provide Pay Later options with interest-free instalments allowing customers to spread out the purchase cost over time with no interest charges.
  • Cash Flow Management
    You can improve your cash flow by receiving payments from customers upfront while allowing them to pay for their purchases over time.
  • Increase Average Order Value
    Pay Later options lead to higher average order values, thereby boosting sales.

Offers

  • Create and run attractive offers on your website, thereby increasing sales.
  • Provide interest-free EMI options with No Cost EMI Offers.
  • With the help of Low Cost EMI Offers, provide upfront discounts by splitting the interest cost with your customers.
  • Grow conversions of price-sensitive customers.
  • Enjoy customer loyalty by providing offers to returning customers.
  • Incremental offers lead to higher average order value, thereby boosting sales.

  • E-commerce websites
    Offer flexible payment options to customers, such as No Cost EMI and Pay Later options

  • Education institutions
    Provide tuition fee payment options that allow students and parents to pay in instalments.

  • Travel and hospitality businesses
    Provide payment plans for vacation packages or hotel bookings, allowing customers to pay for their trips over time.

  • Retail industries
    Offer No Cost EMI and Low Cost EMI options to encourage high-value purchases with upfront discounts.

  • Luxury brands
    Make high-end and high-investment products more accessible to customers with EMI.

  • Healthcare and wellness companies
    Provide affordable payment plans for gym memberships, fitness classes, and other wellness services.

The Affordability Widget displays the affordability-based payment options (such as EMI, Cardless EMI, and Pay Later) and offers available to your customers on the product page. This allows customers to discover payment offers before they reach checkout and make an informed buying decision. Know more about the

.

Handy Tips

  • Native web users can integrate the widget with checkout. Your customers can select an offer/payment option on the widget, proceed to checkout and complete the payment.
  • For Shopify and WooCommerce user, this is a view-only widget.

You can integrate the widget on your:

Improve success rate and enhance customer experience by offering a pre-eligibility check at checkout. Check eligibility on Debit Card EMI, Cardless EMI, and Pay Later instruments and let your customers easily choose the most relevant affordability option and complete the purchase seamlessly. Know more about

.

With Razorpay, you can offer your customers various payment methods to buy products using

, , , , and .

Credit Card EMI

Using the Credit Card EMI payment method, make your products more affordable for customers by reducing the upfront payment amount.

Below is the list of supported payment partners for Credit Card EMI:

Bank CodeIssuer Bank
AMEXAmerican Express
BARBBank of Baroda
CITICitibank
FDRLFederal Bank
HDFCHDFC Bank
HSBCHSBC Bank
ICICICICI Bank
INDBIndusInd Bank
KKBKKotak Mahindra Bank
RATNRBL Bank
SBINState Bank of India
SCBLStandard Chartered
UTIBAxis Bank
YESBYes Bank

Watch Out!

Bajaj Finserv services are temporarily disabled.

EMI Plans and Interest Rates

Refer to the FAQs for the EMI plans and interest rates of different banks for

.

Debit Card EMI

Leverage the benefits of EMI schemes with the Debit Card EMI payment method.

Below is a list of banks that support Debit Card EMIs:

Bank CodeIssuer Bank
HDFCHDFC Bank
INDBIndusInd Bank
KKBKKotak Mahindra Bank

EMI Plans and Interest Rates

Refer to the FAQs for the EMI plans and interest rates of different banks for

.

Cardless EMI

Your customers can enjoy the benefits of EMI even if they do not possess debit or credit cards with the Cardless EMI payment method.

Below is the list of supported payment partners for Cardless EMI:

BanksProvider Code
CASHecshe
ICICI Bankicic
IDFC Bankidfb
HDFC Bankhdfc
Kotak Bankkkbk
KreditBeekrbe
TVS Credittvsc
axiowalnut369
Fibeearlysalary
ZestMoneyzestmoney

EMI Plans and Interest Rates

Refer to the FAQs for the Cardless EMI plans and interest rates charged by:

Pay Later

Below is the list of supported the pay later providers:

ProviderProvider Code
ICICI Bank PayLatericic
GetSimplgetsimpl
FlexiPay by HDFC Bankhdfc
LazyPaylazypay

Standard Interest Rates

Refer to the FAQs for the standard interest rates charged by

.

If you are using Razorpay Standard Checkout, you do not need to perform any additional integrations to display these payment methods to your customers. Get this feature enabled on your account by contacting our

.

As per your business requirements, you can check the payment methods available on:

You can try the EMI flow by clicking the Pay with Razorpay button. This initiates a ₹5,500 payment. Provide the relevant details and complete the payment. Use the

.

Live Transaction with Auto Refund

This is a real transaction and money will be deducted from your account. However, the amount debited will be auto-refunded to your account in 5-7 working days.

You can use Offers to attract customers and improve your sales by providing discounts and cashback to customers when they make payments on your website or apps. You can restrict the payment methods on which the offers are applied and limit their usage. Know more about

.

Watch Out!

We do not support offers on CFB (Customer Fee Bearer) model.

No Cost EMI Offers

You can provide No Cost EMI schemes to customers when making payments on your website or apps. This helps your customers pay their EMI provider only the product price, equally divided over the repayment timeline. Know more about

.

Handy Tips

An EMI discount will be applied to the customer's purchase to cover the interest the bank charges. For example, if the bank's interest is ₹100, an EMI discount of ₹100 will be applied to the order, thereby making the effective interest 0.

The customer will be charged the GST on interest by the bank. This interest and GST will show up on the customer's bank statement.

Low Cost EMI Offers

Absorb the partial interest cost of the EMI and pass it as an upfront discount to your customers. EMI discount will be applied to the customer's purchase to partially cover the interest the bank charges.

Customers contribute a portion of the installment cost, while you subvent the remaining amount. This approach ensures that customers enjoy the benefits of EMI at an affordable price, helping you minimise the overall cost. Know more about

.

Handy Tips

An EMI discount will be applied to the customer's purchase to partially cover the interest the bank charges. For example, if the bank's interest is 4.5%, you can partially cover 3%, and the customer bears the remaining 1.5%.

You can create Offers including No Cost EMI and Low Cost EMI Offers via the Razorpay Dashboard and display them to your customers on Checkout.


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