Amazon Pay Balance Policy Change

[CreditCardFino]

The new policy change (May 10) has destroyed Amazon ICICI credit card 3% cash back. We can't club Amazon Pay balance and pay remaining amount with credit card need exact amount. Moreover, the earn rate will be 2% of the transaction amount for all transactions made through Amazon Pay ICICI card to load the Amazon Pay Wallet. But there is a convenience fee of 2.36% (incl GST) applicable on Credit Cards to load wallet. With this change you should accumulate cash back and use it to pay one order entirely with pay balance.

Source: 9. https://www.icicibank.com/managed-assets/docs/personal/cards/tc-for-amazon-pay-credit-card.pdf

 

[sourpai]

This is old news. Thread already exists here on the same topic

Thread 'Amazon stops allowing combining Amazon Pay balance with any other payment method'

May 21, 2024

This is big!

Now you can no longer combine your Amazon Pay balance along with another payment method to make a payment on Amazon!

This policy is currently rolled out in batches.


If you want to use it with any other payment method, you get the "Insufficient balance" error now:


Suppose you want to pay for a ₹2500 order, and you have a ₹500 Amazon Pay balance. Earlier you could pay with your credit card and get applicable rewards on the remainder balance, which in this case is ₹2000. But, now you have to add whole ₹2000 amount to Amazon Wallet in order to use up...

• CosmicCat
• Replies: 166
• Forum: Finance World News

• 
• 
• 

 

[CreditCardFino]

This is old news. Thread already exists here on the same topic

Thread 'Amazon stops allowing combining Amazon Pay balance with any other payment method'

May 21, 2024

This is big!

Now you can no longer combine your Amazon Pay balance along with another payment method to make a payment on Amazon!

This policy is currently rolled out in batches.


If you want to use it with any other payment method, you get the "Insufficient balance" error now:


Suppose you want to pay for a ₹2500 order, and you have a ₹500 Amazon Pay balance. Earlier you could pay with your credit card and get applicable rewards on the remainder balance, which in this case is ₹2000. But, now you have to add whole ₹2000 amount to Amazon Wallet in order to use up...

• CosmicCat
• Replies: 166
• Forum: Finance World News

• 
• 
• 

I got a positive repose today about it. Policy update is old but wallet loading % and return % are bad. I noticed it today.

 

[sourpai]

Amazon executives are sometimes not fully knowledgeable. They are trained to give responses like 'we will look into it, or 'may happen in future' etc.

It is a policy decision taken at Amazon Pay HQ. Only source of truth is the Amazon T&C page on their website / app as displayed on above link

P.S: Wallet loading charges existed since long time back (close to an year I think), since they launched wallet UPI. Best way is to load Amazon Pay vouchers and use them for payments

 

[CreditCardFino]

Amazon executives are sometimes not fully knowledgeable. They are trained to give responses like 'we will look into it, or 'may happen in future' etc.

It is a policy decision taken at Amazon Pay HQ. Only source of truth is the Amazon T&C page on their website / app as displayed on above link

P.S: Wallet loading charges existed since long time back (close to an year I think), since they launched wallet UPI. Best way is to load Amazon Pay vouchers and use them for payments

But we get 2% cash back instead of 3% and convenience fee is 2.36% + GST (2.78%) that is higher than usual. Executive says amazon pay and card payment clubbing restriction was temporary it will change soon.

 

[phronimos]

But we get 2% cash back instead of 3% and convenience fee is 2.36% + GST (2.78%) that is higher than usual. Executive says it was temporary change they will revert back soon.

This is industry standard for all non banking apps that allows money load by credit card and use it for UPI. Same is there in phone pe, slice and Paytm (when Paytm had a wallet).

 

[CreditCardFino]

This is industry standard for all non banking apps that allows money load by credit card and use it for UPI. Same is there in phone pe, slice and Paytm (when Paytm had a wallet).

For PayZ wallet there is zero convenience fee from credit card to wallet. I have done it before.

 

[sourpai]

But we get 2% cash back instead of 3% and convenience fee is 2.36% + GST (2.78%) that is higher than usual. Executive says it was temporary change they will revert back soon.

You are giving too much importance to what executive is saying. Wallet loading charge is here to stay and it is not going away. If you want to keep using it, load using Amazon pay vouchers

Payzap is also going to charge for wallet loading at 1.18% starting from 1st Aug

 

[CreditCardFino]

You are giving too much importance to what executive is saying. Wallet loading charge is here to stay and it is not going away. If you want to keep using it, load using Amazon pay vouchers

Payzap is also going to charge for wallet loading at 1.18% starting from 1st Aug

I was referring to payment clubbing restriction is temporary not regarding convenience or wallet charges. Yes from 1 Aug it will charge 1.5% + GST but reduced wallet to account transfer fee. So no need to worry about loading.