On Amazon, you’ve spotted a toy your child is sure to love for their birthday. But you are afraid of overindulging and draining your cash flow. Why not use payment in installments? The American e-commerce giant offers this possibility, in partnership with the consumer credit specialist. A way to please yourself or your loved ones while avoiding bank accidents. But before subscribing to this method of payment, discover all the conditions. What are you actually going to pay? Is it really advantageous? Everything you need to know to pay in installments on Amazon. Zoom on the payment in 4 installments or by Paymens.
Payment terms on Amazon
According to the article Amazon Payment Conditions dated February 2019, there are several payment methods:
- by credit card ;
- payment in 4 instalments;
- as a gift certificate and Amazon voucher.
The American giant therefore offers payment in installments in partnership with Cofidis, a specialist in consumer credit. To qualify for this offer, you must make purchases between 75 euros and 2000 euros. And the products must be sold and delivered by Amazon.
Products not eligible for payment in installments
Although most items on Amazon.fr are eligible for payment in 4 X by credit card or Paymens, there are some exceptions.
Here is the list of products that cannot be submitted for payment in 4 X:
- products with digital content;
- items that are not in stock (coming soon or available for pre-order);
- Amazon gift certificates;
- Amazon Prime registrations;
- items purchased elsewhere than on the Amazon site.
How to pay in several installments?
To pay in installments, you must follow these steps:
- go to your Amazon shopping cart;
- then activate the payment in installments;
- then, click on the option « Pay in 4 credit card installments » or « Pay with Paymens ». And do “Continue”;
- the Amazon purchase button then indicates « Pay in 4 X Bank Card » or « Pay with Paymens » with the monthly payments;
- to validate the purchase, just click on the site. You will be redirected to the Cofidis site to complete the transaction.
To know : for payment in four instalments to be possible, your credit card must be valid for the next four months. You must also have the necessary funds. On the other hand, not all credit cards are accepted. E-cards, foreign, prepaid, Electron, Maestro and American Express cards are excluded from the operation.
Then, note that you will not be asked for any proof. However, you must first complete an Amazon checkout form (immediate response). The e-commerce site will then charge the amount of your order in four installments spread over the next four months. During each direct debit, the wording “CB AMAZON 4 FOIS” will appear on your account statements.
Finally, upon validation of your request for payment in installments, you will receive an order confirmation email and then an email confirming the dispatch of your order. Cofidis will also send you a payment confirmation email and a payment schedule. And if your payment request is refused by Cofidis, you will be redirected to the Amazon site to select another payment method.
What are the fees applied?
You wonder what you will pay in total. And that’s quite normal! Be aware that the payment in four installments is not made without consideration.
An APR rate of 2.25% is applied to the credit. For example, for an order of 500 euros, you will have to pay 11 euros of additional costs.
The advantages of paying in installments
Payment in installments has advantages:
- on the one hand, it prevents you from finding yourself in a delicate financial situation because of an order placed on Amazon;
- and on the other hand, your monthly budget remains stable since your Amazon payments are taken in four monthly installments. It does not “dig into” your budget.
Payment in installments with PayMens
The other possibility is to pay Amazon in installments by Paymens. This is monthly installment financing for up to 24 months.
Concretely, as soon as your order is shipped in its entirety, the amount is divided according to the number of installments selected by you. If you receive the last article before the 22nd of the current month, the first deadline will begin on the 5th of the following month. After the 22nd, the deadline is postponed to the 5th of the other month.
On the other hand, during a first subscription, the financing request must be between 100 and 300 euros. And once your Paymens revolving credit has been accepted, your means of payment is registered on the Amazon site. You can then make purchases between 100 and 2500 euros within the limit of the available reserve. And you won’t need to fill in the Cofidis form again either.
To know : to pay with Paymens, you must complete an online Cofidis form. And you will also be asked for a bank account statement as well as an electronic copy of an identity document (national identity card or passport).
Read also: Pay in installments on Darty: the solutions
What happens if I return my order?
If you return part or all of your order, and if you have not yet started paying your installments, Cofidis will adjust your next monthly payments.
And if you have ever finished paying your installments or if you have paid an amount exceeding that of your order (after deduction of the returned product(s), Cofidis will refund the item(s) ) concerned on the account linked to the bank card registered when subscribing to payment in installments.
Read also: How to get an invoice on Amazon?