Given below is a diagram that explains the payment flow for Cardless EMI:
About Cardless EMI
Offer automatic EMI payments without using credit or debit cards to your customers. Check the payment flow and supported Cardless EMI providers.
Using Razorpay, you can let your customers use Cardless EMI as a payment method to convert their payment amount to EMIs without a debit or credit card. Customers enjoy the benefits of the EMI as the payments are made using credits approved by the supported Cardless EMI Payment Partners.
Feature Enablement
Cardless EMI as a payment method is not enabled by default. Raise a request with our
to enable this feature.Customers select the products on your website or app and proceed to Checkout. On the Checkout page, the customers:
- Enter their Phone Number and click Proceed.
- Select EMI as the payment method and click Pay Now.
- Enter the OTP sent to their mobile number if they want to use their saved cards and click Verify.
- Select Cardless and Others and click Continue.
- Choose a payment instrument from the list and select the EMI tenure. Click Select EMI Plan.
After the successful payment, Razorpay redirects customers to your application or website. Customers' monthly statements will reflect the EMI amount with interest charged by the bank.
You will receive the entire payment amount from the Cardless EMI service provider. Based on the terms and conditions, the customer pays the total payment amount with additional interest (if any) as EMIs to the provider.
Watch Out!
Instant Refunds are not supported on EMI, Cardless EMI and Pay Later.
Following is the list of supported Payment Partners for Cardless EMI and the minimum order amount stipulated by them:
Following is the list of supported Payment Partners for Cardless EMI:
| Banks | Provider Code | Minimum Order Amount |
|---|---|---|
| Bank of Baroda | barb | ₹5000 |
| CASHe | cshe | ₹1000 |
| ICICI Bank | icic | ₹7000 |
| IDFC Bank | idfb | ₹5000 |
| HDFC Bank | hdfc | ₹5000 |
| Kotak Bank | kkbk | ₹3000 |
| KreditBee | krbe | ₹2400 |
| TVS Credit | tvsc | ₹3000 |
| axio | walnut369 | ₹900 |
| Fibe | earlysalary | ₹3000 |
| ZestMoney | zestmoney | ₹99 |
| Payment Partners | Provider Code | Minimum Order Amount |
|---|---|---|
| axio | walnut369 | ₹900 |
| Fibe | earlysalary | ₹3000 |
| ZestMoney | zestmoney | ₹99 |
Handy Tips
Refer to the FAQs to know the standard interest rates charged by:
No additional integration is required to show Cardless EMI on your Standard Checkout page.
Refer to the
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