About Affordability Suite

The following diagram indicates the various offerings of the Affordability Suite:

Use Affordability Widget to create awareness about affordable payment options, such as EMI, Cardless EMI, and Pay Later and offers.

Eligibility Check

Access customer eligibility using pre-eligibility checks on Debit Card EMI, Cardless EMI, and Pay Later instruments and help them choose the most appropriate payment option.

Payment Methods

Offer your customers various payment methods to buy products using Credit Card EMI, Debit Card EMI, Cardless EMI, No Cost EMI, Low Cost EMI and Pay Later.

Offers

Use Offers to attract customers and improve your sales by providing discounts and cashback to customers.

The Affordability Widget displays the multiple payment options (such as EMI, Cardless EMI, and Pay Later) and offers to your customers on the product page. This allows customers to discover payment offers before they reach checkout and make an informed buying decision. Know more about the

Affordability Widget

Advantages

Enable discovery of affordable payment options early on: Spread awareness about affordability-based payment methods and offers available to your customers even before they reach checkout using the Affordability Widget.
Improve conversion rates: The availability of affordable payment options such as EMI and Pay Later will help boost conversion rates enabling customers to make more informed buying decisions.
Increase Average Order Value: With affordable payment options, businesses typically see a 30% higher average order value.
Easy Integration: Integrating with the Razorpay Affordability Widget is effortless, involving only a few lines of code.

Handy Tips

Native web users can integrate the widget with checkout. Your customers can select an offer/payment option on the widget, proceed to checkout and complete the payment.
For Shopify and WooCommerce user, this is a view-only widget.

Integration

You can integrate the widget on your:

Native Website

WooCommerce Website

Shopify Store

and

Android App

Eligibility Check

Improve success rate and enhance customer experience by offering a pre-eligibility check at checkout. Check eligibility on Debit Card EMI, Cardless EMI, and Pay Later instruments and let your customers easily choose the most relevant affordability option and complete the purchase seamlessly. Know more about

Eligibility Check

Advantages

Higher Success Rate: Increase the success rate of transactions with Affordability instruments by displaying only eligible payment options, thereby reducing failed transactions due to ineligibility.
Enhance Customer Experience: Deliver a seamless customer experience through an intuitive UI that enables customers to discover and choose the most affordable payment options.

Payment Methods

You can offer your customers various payment methods to buy products using

Credit Card EMI

Debit Card EMI

Cardless EMI

No Cost EMI

Low Cost EMI

and

Pay Later

Advantages

EMIs

Easy EMI Repayments: Reduce the upfront amount to be paid by your customers with easy-to-manage EMI repayments.
Cardless EMIs: Target a large segment of consumers who do not have a credit or debit card.
Increase sales: Grow sales by allowing customers to make high-value purchases with low upfront payments.
Increase Average Order Value: EMI options lead to higher average order value, thereby boosting sales.

Pay Later

Best in class: Razorpay has the widest coverage of Pay Later partners amongst all payment solutions providers. Enjoy a success rate of over 90% (best in class).
Flexible Repayments: Customers can buy now and pay later, with various payment options ranging from a few weeks to several months.
Interest-free Options: Provide Pay Later options with interest-free instalments allowing customers to spread out the purchase cost over time with no interest charges.
Cash Flow Management: You can improve your cash flow by receiving payments from customers upfront while allowing them to pay for their purchases over time.
Increase Average Order Value: Pay Later options lead to higher average order values, thereby boosting sales.

Credit Card EMI, Debit Card EMI, Cardless EMI and Pay Later

Following is the list of payment partners for the various payment methods:

Credit Card EMI

EMI Plans and Interest Rates

Refer to the FAQs for the EMI plans and interest rates of different banks for

Credit Card EMIs

Debit Card EMI

EMI Plans and Interest Rates

Refer to the FAQs for the EMI plans and interest rates of different banks for

Debit Card EMI

Cardless EMI

EMI Plans and Interest Rates

Refer to the FAQs for the Cardless EMI plans and interest rates charged by

Banks/Partners

and

Pay Later Providers

Pay Later

Standard Interest Rates

Refer to the FAQs for the standard interest rates charged by

Pay Later providers

Integrate Payment Methods

If you are using Razorpay Standard Checkout, you do not need to perform any additional integrations to display these payment methods to your customers. Get this feature enabled on your account by contacting our

Support team

As per your business requirements, you can check the payment methods available on

Standard Checkout

Custom Checkout

Try EMI Flow on Checkout

You can try the EMI flow by clicking the Pay with Razorpay button. This initiates a ₹5,500 payment. Provide the relevant details and complete the payment. Use the

Test Card for EMI Payments

Live Transaction with Auto Refund

This is a real transaction and money will be deducted from your account. However, the amount debited will be auto-refunded to your account in 5-7 working days.

Offers

You can use Offers to attract customers and improve your sales by providing discounts and cashback to customers when they make payments on your website or apps. You can restrict the payment methods on which the offers are applied and limit their usage. Know more about

Offers

Advantages

Create and run attractive offers on your website, thereby increasing sales.
Provide interest-free EMI options with No Cost EMI Offers.
With the help of Low Cost EMI Offers, provide upfront discounts by splitting the interest cost with your customers.
Grow conversions of price-sensitive customers.
Enjoy customer loyalty by providing offers to returning customers.
Incremental offers lead to higher average order value, thereby boosting sales.

Watch Out!

We do not support offers on CFB (Customer Fee Bearer) model.

No Cost EMI Offers

You can provide No Cost EMI schemes to customers when making payments on your website or apps. Know more about

No Cost EMI Offers

Handy Tips

An EMI discount will be applied to the customer's purchase to cover the interest the bank charges. For example, if the bank's interest is ₹100, an EMI discount of ₹100 will be applied to the order, thereby making the effective interest 0.

The customer will be charged the GST on interest by the bank. This interest and GST will show up on the customer's bank statement.

Low Cost EMI Offers

Absorb the partial interest cost of the EMI and pass it as an upfront discount to your customers. EMI discount will be applied to the customer's purchase to partially cover the interest the bank charges.

Customers contribute a portion of the installment cost, while you subvent the remaining amount. This approach ensures that customers enjoy the benefits of EMI at an affordable price, helping you minimise the overall cost. Know more about

Low Cost EMI Offers

Handy Tips

An EMI discount will be applied to the customer's purchase to partially cover the interest the bank charges. For example, if the bank's interest is 4.5%, you can partially cover 3%, and the customer bears the remaining 1.5%.

Integrate Offers

You can create Offers including No Cost EMI and Low Cost EMI Offers via the Razorpay Dashboard and display them to your customers on Checkout.