Follow the procedure mentioned in the Offers documentation to create No Cost EMIs on the Razorpay Dashboard.
No Cost EMIs
Let your customers avail No Cost EMIs offered on credit cards issued by all the major banks. The card issuer waives off the interest levied on the EMIs. No Cost EMIs are offered as an upfront discount to your customers. After the purchase is made, the customer is charged monthly as per the credit card billing cycle, or payment terms agreed with the card issuer.
On the Razorpay Checkout, customers enter the required details and selects EMI as the payment method.
If the amount entered in the Checkout is eligible for the discount, all the eligible plans provided by the card issuer are shown in EMI options.
After customers select this option, valid EMI plans for the entered amount are displayed.
Customers choose a preferred plan and proceed to complete the payment.
A 6-digit OTP is sent to the registered phone number of the customer to authenticate the transaction.
After successful authentication, the payment is settled to your account.
By the end of the EMI cycle, the card issuer deducts the EMI amount from the customer’s bank.
FAQs Related to EMIs