List of commonly used terms related to Razorpay Affordability Suite.
The following table lists all the commonly used terms and their definitions used in Affordability Suite:
The Affordability suite enables businesses to attract and retain their customer base by providing affordable payment options.
An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month.
A No-Cost EMI is when you pay for a product in installments without any interest charged on it.
An offer is a conditional proposal made by a buyer or seller to buy or sell an asset, which becomes legally binding if accepted. Using Razorpay Offers, you can have a complete control of the discounts that can be offered to your customers.
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