Amazon is one of the largest e-commerce giants and has now replaced the gift cards with Amazon Pay. The change was made by Amazon on Wednesday without any prior notification and it replaced the balance in Amazon Gift card with Amazon Pay. As claimed by Amazon it is to will be faster way to make payments. It is almost similar to the Amazon Gift cards but with some significant changes for better convenience.
Amazon pay and changes
There is no limit of transaction via the Amazon Pay unlike the wallets and the balance money in Amazon Pay is valid for one year after which it expires. The main difference is you don’t have to purchase it like gift cards but can top up Amazon Pay directly on Amazon Website. The new change has made shopping handy for Amazon shoppers. If there is balance in your Amazon Pay then with one click you can make the purchases without the requirement of OTP. The filling up of the balance can also be managed by you. On the launch of the Amazon Pay service it was stated by VP Payments of Amazon India, Sriram Jagannathan – “We are happy to launch Amazon Pay Balance. All customers have to do is load their balance; a friction-free payment experience awaits them.” For the refund in case of cash on delivery you can also opt for receiving the money back in Amazon Pay rather than choosing bank transfer.
Few restrictions with Amazon Pay
With Amazon Pay you can purchase everything that you want on Amazon but you cannot buy gift cards, gold coins or bank cards via the Pay balance while on Amazon.in. There is one major restriction which is you cannot transfer money from your Amazon Pay to your bank account but there are some great plans to be rolled by Amazon regarding Amazon Pay. Amazon is planning to incentivise the maximum use of Amazon pay by offering special deals. There is no limit to transaction per day but one can add up to Rs 10,000 per day.
Conclusion
Amazon has also introduced previously Pay with Amazon in India and with the Amazon Pay it would be a great way to encourage cashless transaction as well as expand payment options. The other e-commerce like Snapdeal or PayTM has their own wallet and now Amazon is also expanding its payment ways. Amazon Gift card is now Amazon Pay with one year of validity and limited per day transaction.