Advance EMI Suite

Let your users explore offers & discounts available on EMI options

Overview

EMI is a powerful payment option that helps your users make high-ticket purchases without worrying about paying the entire amount upfront. Splitting payments into EMIs not only enhances customer retention but also boosts final conversions. For merchants focusing on medium to high-ticket items, offering EMI is an essential component of the checkout journey.

The Juspay Advanced EMI Suite takes this a step further by offering low-cost and no-cost EMI plans, in addition to Standard EMI options. This premium feature allows you to further enhance affordability for your users by reducing or eliminating the interest costs on their EMI or by adding instant discounts on top of standard EMI plans.

With the Juspay Advance EMI Suite, you can cater to a bigger user base by enabling buy now, pay later payment mode in its true sense.

Integrated with multiple payment gateways, the Juspay Advance EMI Suite serves as a single, no-code platform that seamlessly enables diverse EMI payment options across banks, issuers, and gateways.

EMI Types:

There are three types of EMI plans that are offered to customers:

• Standard EMI: Equal monthly instalments at applicable interest rates.

• Low-cost EMI: Equal monthly instalments at reduced interest rates. A certain percentage of the applicable interest is given as an upfront discount.

• No-cost EMI: Equal monthly instalments for only paying back the original amount, with no interest. The applicable interest is waived off as part of a discount or offer.

Juspay Advance EMI Suite helps you enable all three above formats of EMIs for your users.

Banks, NBFCs, and issuers offer EMI payment options to users through the following instruments:

• Credit Card: The transaction amount is authorized by the customer's issuing bank and converted into EMIs within 3-4 days, depending on the credit card provider's terms.

• Debit Card: Customers are not required to have a balance greater than the transaction amount in their accounts when placing an order. However, they must ensure that their accounts have sufficient funds to cover the EMI due each month.

• Cardless: NBFCs and Banks offer a Cardless EMI payment option by extending credit to worthy customers. User authentication is done using the mobile number and/or the last four digits of the PAN card. The customer's approved credit limit is utilized during the transaction.

Feature Details

User Journey

Feature Benefits

• High customer retention, increased conversions and assured future revenue

• Easy enablement of EMI plans, including no cost and low cost EMI plans, without the need to integrate with individual PGs

• Dynamic routing for EMI transactions based on the configured routing rules without any PG stickiness

• Transparent and clean user interface to show EMI plan details and amount breakup at any point in the customer journey

• Easy to use interface for merchants to configure EMI plans based on different dimensions like user base, products, any other business variables

• Real time analytics, visibility and monitoring for all EMI transactions

Frequently Asked Questions