What are the different payment methods in Affordability?

  • EMI
  • Pay Later

What are the supported EMI types?

  • Credit Card EMI
  • Debit Card EMI
  • Cardless EMI

How to enable EMI and Pay Later options?
Place a request on [email protected] or reach out to your dedicated Account Manager.


How to integrate the EMI and Pay Later options?
The integration is similar to that of Cashfree payment gateway integration. You can refer the API documentation here. If you are using Cashfree redirect checkout or drop checkout, you can try them out here.


What is the difference between Cardless EMI & Pay Later?
Cardless EMI allows customers without access to credit or debit card to pay in equal installments starting from 3 months and make their high value purchases
Pay Later offers the convenience of credit card to new age shoppers, where they are assigned a credit limit and can repay in 15- 30 days.


How long does it take to activate EMI and Pay Later options?
Majority of the Pay Later options require almost 7-10 days for approval and activation.


Where can I find the test data for integration?
Test data can be found here.


If a customer chooses EMI, when do I get the full amount?
You get the full amount upfront and the bank/ partner converts the transaction into EMI for the customer.


What happens if the customer does not repay their EMIs?
The entire risk is taken by the lender and the merchant gets the entire order amount upfront.


How do I initiate a refund ? How long does it take for refunds to be processed?
You can initiate a refund via the Payment Gateway dashboard or use the APIs](ref:reference/createrefund). Refunds may take 8-10 days to be processed. However, the majority of the refunds get processed within 2 working days.


How long after the transaction is the refund generally allowed?
Typically Banks / Partners allow refunds for up to 30 days. In genuine cases this might increase.


Who are issuers supported for Cardless EMI?

  • Federal Bank
  • IDFC Bank
  • Kotak Mahindra Bank
  • HDFC Bank
  • Home Credit
  • ICICI Bank
  • Bank of Baroda
  • ZestMoney
  • Kreditbee

Who are the card issuers supported for card-based EMIs?

  • HDFC Bank
  • Kotak Bank
  • ICICI Bank
  • RBL Bank
  • Bank Of Baroda
  • Standard Chartered
  • Axis Bank
  • AU Small Finance Bank
  • Yes Bank
  • IndusInd Bank
  • State Bank Of India
  • Federal Bank
  • HSBC
  • Citi Bank

What are the standard interest rates charged by banks for Credit Card EMI plans?

Name of the ProviderMinimum Amount (INR)3 Months6 Months9 Months12 Months18 Months24 Months36 Months20 Months30 Months
Standard Chartered Credit Card200011.88%13%14%14%
ICICI Bank Credit Card150014.99%14.99%14.99%14.99%14.99%14.99%
Kotak Bank Credit Card250015%15%15%15%16%16 %16 %16 %16 %
HDFC Bank Credit Card300016%16%16%16%
Bank of Baroda250013%14%14%15%16%16 %16 %
RBL Bank150013%14%15%15%15 %15 %
Axis Bank250014%14%15%15%16%16 %
AU Small Finance Bank200014%14%14%14%14%14%
State Bank of India Credit Card400014%14%14%14%
Federal Bank250014%14%14%14%
Citibank250013%13%15%15%
HSBC200012.50%12.50%13.50%13.50%13.50%
Indusind200013%13%13%13%15%15%
Yes Bank150012%12%13%13%15%15%

How will the customers know that they are eligible for Debit Card EMI?
There are 2 ways in which customers can check their Debit Card EMI eligibility:

  1. Via SMS
  • HDFC Bank - SMS MYHDFC to 5676712 from registered mobile number
  • Axis Bank - SMS DCEMI<Last 4 Digits of Debit Card> to 56161600
  • Kotak Mahindra Bank - SMS DCEMI <Last 4 Digits of Debit Card> to 5676788
  1. When they enter their mobile number Cashfree Payments would do an eligibility check and show if they are approved or not.

What are the standard interest rates charged by banks for Debit Card EMI plans?

Name of the ProviderMinimum Amount (INR)3 Months6 Months9 Months12 Months18 Months24 Months
HDFC Bank300016%16%16%16%16%16%
Axis Bank500014%14%16%16%16%16%

What are the standard interest rates charged by banks for Cardless EMI plans?

Provider NameMin Amount3 Months6 Months9 Months12 Months18 Months24 Months36 Months
HDFC Cardless EMI300016%16%16%16%16%16%16%
Kotak Cardless EMI300017%17%17%17%
ICICI Cardless EMI700016%16%16%16%
IDFC Cardless EMI500024%24%24%24%
Federal Cardless EMI500015%15%15%15%
BoB Cardless EMI500016%16%16%16%
Home Credit Cardless EMI50024%24%24%24%
ZestMoney Cardless EMI10000%36%36%

Is it possible for your customers to edit the EMI plans?
No, the EMI plans cannot be altered.


What is No Cost EMI?
No Cost EMI allows your customers to buy products in monthly installments and need not pay any interest on the product purchased. These installments will be divided equally over a time period of 3 to 24 months. The effective interest rate will be borne by the merchant.


How to create a No Cost EMI?
Go to Payment Gateway Dashboard > Offers > Create No Cost EMI.


How can my customers pay using Pay Later?
Customers pay using their credit limit assigned, similar to a credit card.


Through which Pay Later providers can your customers pay?

  • Simpl
  • Freecharge PayLater
  • LazyPay
  • ZestMoney PayLater
  • OlaMoney Postpaid
  • HDFC (via Flexmoney)