What is axio Pay Later?
axio Pay Later is the most hassle-free way to get instant credit, via a completely digital
process, for purchases made online. You only need to complete a one-time setup process,
which should not take more than 2 minutes and doesn't require credit card details. Once the
setup is complete, you get access to a Pay Later limit on the payments page on the partner
website to shop immediately and make payments either within 30 days or with EMIs
ranging from 3 to 18 months.
What are the key benefits of axio Pay Later?
● Access to credit within 2 minutes. Get an instant decision.
● Completely digital process.
● No credit card or salary history required.
● Seamless checkout on our partner website using this payment mode
What are the eligibility criteria to use axio Pay Later?
You need to have an account with our partner website, a valid PAN card, Aadhaar card
and a bank account in the listed banks. Your age must be 21 years or above. Further
eligibility is decided on the basis of a host of variables, like your previous bookings &
cancellations history on the partner website, your credit bureau history, and so on. Our
models will rate your performance basis these variables and enable or disable this
payment mode for you and decide the Pay Later limit for your account.
How do I sign up for axio Pay Later?
Go to the “Pay Later” registration page on our partner's mobile app and follow these
simple on-screen instructions.
Step 1: Verify
● Provide your PAN and Aadhaar/Virtual ID (VID) details for verification. Complete
verification by confirming the one-time password (OTP) sent on your Aadhaar-linked
● Once the OTP is entered, your profile will be verified and evaluated, and the Pay Later
limit will be determined, which will be displayed to you on the next screen.
Step 2: Accept
Your approved axio Pay Later limit will be displayed here along with the loan agreement
& Key Facts Statement(KFS) with important information such as applicable charges,
repayment schedules, etc. Please read and accept the agreement to complete the Pay Later
Step 3: Repayment
You will have to link your bank account/debit card to process your monthly EMI
repayments whenever you use this limit for booking or shopping.
● To successfully set this up, your bank account/debit card will be charged up to ₹5, which
will be refunded to your bank account within 3-5 business days.
● Only a few banks are supported for now. You can find the complete list on-screen during
Who is the lending partner(s), and why am I providing my details to them?
axio Pay Later is offered to you by CapFloat Financial Services Private Limited in association
with Karur Vysya Bank as its co-lending financial partner.
CapFloat Financial Services Private Limited is a Non-Banking Financial Company (NBFC)
registered with the Reserve Bank of India. It is listed in RBI's list of NBFCs and is permitted to
lend money to retail customers, and small and medium businesses. CapFloat Financial Services
Private Limited operates in accordance with the legal framework and regulations prescribed by
Is it mandatory to provide PAN Card and Aadhar/VID details?
PAN and Aadhaar or VID are mandated by regulations for completing basic Know Your Customer
(KYC) checks. If you don't have a PAN or Aadhaar/VID, you will not be able to complete the
What is Aadhar Virtual ID (VID)? Can it be used in place of my Aadhar number?
Aadhaar Virtual ID (VID) is an alternative to your Aadhaar number. You can provide your VID instead of
your Aadhaar number for KYC completion. This is the new feature implemented by UIDAI (the
organization responsible for issuing Aadhaar numbers to citizens of India), considering the privacy
of a person's Aadhaar number and associated details. VID is a temporary 16-digit numerical code
that can be generated on the UIDAI website against any specific Aadhaar number. It can be
generated any number of times and the original Aadhaar number cannot be retrieved using this
code. More details on VID can be found here.
How can I generate my Aadhar VID?
Step 2: Click on the "Virtual ID (VID) Generator" from the “Aadhaar Services” section
Step 3: You will be taken to a new “VID Generation” page
Step 4: Enter your 12-digit Aadhaar number and the security code
Step 5: Now click on the "Send OTP" button
Step 6: An OTP will be sent to your mobile number registered with Aadhaar
Step 7: Enter the OTP and select the option to either "Generate VID" or "Retrieve VID"
Step 8: Now click on the “Submit” button
Step 9: You will get the message on your registered mobile number mentioning the 16-
digit virtual ID for your Aadhaar number
I don’t remember my Aadhar number, how do I find it?
You don't have to worry if you’ve forgotten your Aadhaar number. Now you can find
your Aadhaar number online within a few minutes by following these steps:
● Go to the Resident Portal of UIDAI here
● Enter your Full Name, Email ID, or Mobile Number in the box
● Enter the security code and click on the “Get OTP” button
● You will get an OTP on your registered number. Enter the OTP in the box and click on
the “Verify OTP” button.
● You will receive your Aadhaar number on your mobile phone
I didn’t receive a One-Time Password (OTP) after entering my PAN and Aadhar details
The OTP is sent by the Unique Identification Authority of India (UIDAI) to the phone
number registered with your Aadhaar card, as per their database. If you haven’t received
an OTP after entering your details:
● Make sure you are checking the mobile number registered with your Aadhar card for the
● Check your mobile network connectivity. If it is weak, try later from an area with good
mobile network connectivity.
How do I update my mobile number linked to Aadhar?
Updating your Aadhaar mobile number requires biometric authentication, and it cannot be done
by post or online, according to the UIDAI. You will need to visit the nearest Permanent
Enrolment Center / Aadhaar Kendra.
How long is KYC valid using Aadhar number or Aadhar VID?
The current KYC process using OTP verification of your Aadhaar or VID number is valid for 1
year. We are working on enabling other modes of KYC to extend the validity of the account for
more than a year. A customer can have only one OTP based account across Registered Entities
My internet got disconnected while registering. What should I do now?
In such cases, you can resume the axio Pay Later registration process on regaining connectivity.
The process will take you to the step you had left unfinished.
Is the information I share to avail axio Pay Later secure?
Our partner websites follow certified data security standards to ensure the safety of your data.
axio also follows the same standards for keeping your data secure. In addition, axio is mandated
to follow data security standards mandated by Indian government regulations and any other
governing laws and regulations as applicable.
Why was my axio Pay Later registration declined?
Here are the probable reasons for your axio Pay Later registration getting rejected:
● Multiple incorrect OTP attempts for Aadhaar verification.
● No entry of OTP for Aadhaar verification for a specified time-period.
● You did not accept the final loan agreement after the generation of the Pay Later limit
● You are currently not eligible as per internal evaluation policies.
● Your KYC document verification failed
● Your downpayment was unsuccessful
Do I have to provide PAN and Aadhar details every time I make a Pay Later transaction?
Registration is a one-time process. You do not have to share these details every time you make a
What are the available EMI plans for using axio?
axio currently offers a 30 day credit period option and EMI plans for 3, 6, 9, 12 & 18 months.
The available plans for your purchase will be displayed on the payment page during checkout.
How many purchases can I make with axio?
You can make multiple purchases using axio up to your available limit approved as part of the
registration. Please note that as per regulations, for KYC undertaken using Aadhaar number/VID
and OTP, there is a regulatory cap on the amount of total purchases of Rs. 60,000 using axio.
For KYC undertaken using offline document verification process, there is no regulatory cap on
the limit usage. This is subject to underwriting criteria.
Do axio purchases entail interest costs?
While choosing to pay by EMIs (3-18 months), there might be interest costs associated. The
details of the interest cost payable will be communicated to you on the payment page while
choosing the EMI plan.
Is auto-repayment setup mandatory during purchase?
Auto-repayment setup is mandatory. The one-time setup can be done:
(i) at the time of registration
(ii) during a purchase using axio Pay Later
Do I need to make any down payment?
Yes, some axio Pay Later purchases require a down payment to be made. In these instances, your
purchase using axio Pay Later will be successful only if the down payment is made successfully.
Can I change my EMI plan?
We are sorry to inform you that you will not be able to change your EMI plan(s) once the
purchase has been made.
My down payment failed. Will I get an option to retry payment?
In case you were unable to make the down payment due to technical issues and you want to reattempt making the payment, please contact us at firstname.lastname@example.org or call us on 080-68075001.
We will be happy to assist you.
How much will be deducted from my axio Pay Later limit on making a booking?
An amount equivalent to your order value will be deducted from your axio Pay Later credit limit.
Whenever you repay the monthly installments, the amount equivalent to the principal value in
your installments will be replenished in the Pay Later credit limit. But your regulatory limit or
sanctioned limit (subject to underwriting) may not increase.
Can I convert a transaction I already made using another payment method to axio Pay Later?
You will not be able to change the payment method of an order once it is successfully placed.
Will I get reward points for using axio Pay Later?
Sorry, you will not accrue any reward points for making bookings using axio Pay Later.
However, if you repay using your debit card, you can accrue reward points on the repayments in
your debit card, if applicable by your bank.
Why am I being contacted by axio claiming that I have taken a loan from them for online purchases?
Several e-commerce companies have partnered with axio, the brand name of CapFloat Financial
Services Private Limited, a Reserve Bank of India recognized Non-Banking Financial company
to provide the Pay Later facility to our customers. Since our e-commerce partner doesn't hold the
license to give credit to customers, axio has provided credit to you via the e-commerce partner.
My payment failed while placing an order, will I get an option to retry payment?
In case the payment failed on your order, you will get an option to retry the payment using a
different payment method than axio Pay Later.
When is my axio repayment due?
The first EMI for your booking will be due on the 5th day of the month after the subsequent
month of purchase. You can also check your repayment schedule via the KFS.
For example: If you've made a transaction using axio Pay Later in April, the first EMI will be
due on 5th of June (month next to the subsequent one). All the subsequent EMIs will be due on
5th of the subsequent months after June.
How does the repayment work?
Repayment can happen in two ways:
(i) Auto repayment: which is a one-time setup during registration or at the time of purchase using
axio Pay Later
For setting up auto repayment, you are redirected to your bank page, where you can complete it
via Net Banking or debit card-based authentication. Once this is set, the due amount will be
automatically deducted from your linked bank account/debit card, thus making repayments
Your bank might charge a one-time mandate setup cost. Please read the details on your bank
What happens in case my auto-repayment setup fails during booking?
Your transaction will be declined. You will have to retry the payment from the “Your Orders”
page for that particular order.
Can I change the auto repayment setting after registering for axio Pay Later?
No, once the auto-repayment is set up, you will not be able to change the bank or repayment
mode from the partner app. This feature will be available on the app shortly. However, you can
call our customer care center to get the auto repayment settings changed through an offline
Can I repay the outstanding amount in parts?
Currently, the capability to partly repay the outstanding dues is not available on the platform.
However, you can pay the total outstanding amount from the Pay Later dashboard without any
additional charges. You will just have to pay the interest amount accrued till that day of the
What happens if my debit card/bank doesn’t have sufficient funds at the time of autodeduction of funds towards EMI repayments?
In such a case, we will notify you through email and/or SMS about repayment rejection from the
bank and provide details on how to manually complete the payment to avoid any late payment
fees/penalties that the lending partner may impose.
Will I get any reminder notification for EMI payments?
Yes, you will be notified about upcoming payments via SMS and/or email 3-4 days before the
due date, so that you can keep the bank account well-funded for the repayments.
Can I change my repayment date?
Repayment dates cannot be changed.
What happens if I don’t pay my EMI on time?
It is imperative to pay your EMI on time to avoid late payment charges, maintain a good credit
rating, prevent suspension of the axio payment facility, and prevent any legal action.
Please maintain an adequate balance in your account around the repayment date. Not paying
your EMI on time could result in a negative impact on your CIBIL score and all other bureau
Will I incur any late payment fees/penalties for delayed payments?
If you miss your payments on the due date, we request you to manually pay them as soon as
possible. Non-payment even after 3 days after the due date might attract a late payment penalty.
For more information, please visit this link on our website
What should I do if
a. my bank account got debited by an amount that is more than my monthly installment
b. I manually made a repayment, but still, my money got deducted?
In all such cases, the excess funds deducted will be credited by CapFloat Financial Services
Private Limited to the respective bank account in 5-7 business days.
Do I have to make multiple payments in case I have placed more than one order using axio Pay Later?
To keep it very convenient for you, we club monthly instalments across all your bookings with
axio Pay Later into one total EMI amount. This amount will be due on the due date and will be
deducted from your bank account/debit card basis the auto-repayment setup you chose.
Can I cancel the purchase made using axio Pay Later?
Yes. Just like any other booking on the partner website, you can cancel or request cancellation
any time before availing the service.
In case of cancellation, how will the refund be processed?
There is a cooling period of 30 days during which cancellations are refunded. Post this period,
we will not be able to refund your amounts.
In case you have not paid even a single installment for the product, then on cancelling we will
credit your EMI limit with the total order value. If you've already made a payment towards EMI
repayments, we will credit the paid amount back to your bank account/debit card, along with
reinstating your Pay Later limit as mentioned above. This amount should be reflected in your
bank account within 3-5 business days. We may reach out to you via Email /SMS /Call in case
further details are required to process the refund.
Do you charge any cancellation fee specifically for axio Pay Later?
There is no Pay Later specific cancellation fee in case you cancel the booking using this limit.
However, the standard cancellation fees relevant to the merchant may still apply.
Why is my Pay Later account blocked?
Your Pay Later account could be blocked due to multiple reasons, such as:
● You have overdue payments (your repayment was more than 30 days delayed from the
● Due to internal partner website policies
● Due to our partner's internal policies
What can I do to unblock the account?
If your account is blocked due to payments not paid on time, please complete the pending
payments. If the repayment is overdue for less than 30 days, your account will be unblocked
automatically once we receive the payment confirmation. If the payment is made after 30 days of
the due date, we will reassess your profile and take the decision on reinstatement. If it is blocked
due to expiry of KYC, we will provide details of the process to complete Full KYC and extend
validity. If its blocked due to partner's policies, you need to wait for profile re-evaluation (which
happens periodically). We will notify you about the reinstatement of your account.
How can I cancel my axio Pay Later account?
To cancel your axio Pay Later account, you'll have to ensure that all the outstanding dues are
cleared. Only if there are no outstanding dues, we will be able to process account cancellation
requests. If all the dues are clear, please call our customer service team to request account
What does mandate cancellation mean?
Mandate cancellation means cancelling the existing mandate linked to the loan account. Once
cancelled, we will not be able to process any auto-debit from the borrower’s respective bank
account. All further dues need to be paid manually, any delay of which may lead to late payment
fees and penalties charged to the borrower, and an adverse impact on the borrower’s CIBIL score.
If I place a cancellation request, is it permanent or temporary?
The cancellation will be permanent.
If I want to use the credit facility post-cancellation, how do I do that?
In the future, if you want to use the facility, the mandate needs to be registered again.
Will cancellation be considered as deactivation?
No, it is subject to clearing of dues and other policies. The Acceptance/Rejection status notification
will be sent to you via SMS.
Can I pause/stop instead of cancellation/deactivation?
Yes, you can pause/stop standing instructions to auto-debit your account. Doing so will put the
mandate presentations temporarily on hold. If you decide to not use the facility for some time, you
can put it on hold. You can resume the mandate later without any extra charges.
Can I resume the mandate if paused?
Yes, you can place a request to resume.
Where can I place the cancellation request?
You can place the cancellation request by clicking on this link and submitting the relevant details.
For any queries related to axio Pay Later, you can reach out to our partner’s customer care portal or
axio’s customer service: Call us at 1860 419 0999 or email us at email@example.com
Sachet portal is the State Level Coordination Committee (‘SLCC’) initiative that allows customers to lodge complaints. The SLCC is the joint forum formed in all States to facilitate information sharing among the Regulators viz. RBI, SEBI, IRDA, NHB, PFRDA, Registrar of Companies (RoCs) etc. and Enforcement Agencies of the States viz Home Department, Finance Department, Law Department, Economic Offences Wing (EOW) etc., with the objective to control the incidents of unauthorized acceptance of deposits by unscrupulous entities.
Regulated Entity Details
Axio Pay Later is offered in partnership with axio (CapFloat Financial Services Pvt Ltd). CapFloat Financial Services Pvt Ltd (axio) is a Non Banking Financial Corporation (NBFC) and is a regulated entity under Reserve Bank of India (RBI) operating in accordance with the legal framework and regulations as prescribed.
Credit facility offered can either be fully funded (100%) by axio or it can be co-funded by both axio and KVB (Karur Vysya Bank Ltd.) in 20:80 split respectively. If so, the user’s bureau report will reflect the approved amazon pay later credit facility under CapFloat Financial Services Pvt Ltd (axio) and Karur Vysya Bank Ltd in 20:80 split in the same ratio respectively. This is at axio’s discretion.
All the Razorpay data is hosted and stored in AWS Mumbai Zone. Razorrpay adheres to RBI's Data Localization rules.
Customer Care Details
axio Customer Service :
In case of any queries please write to “firstname.lastname@example.org” or reach out at 080-68-75001
Razorpay customer service
Nodal Grievance Redressal Officer
Mr. Arvind Subramaniam - Grievance Redressal officer of Razorpay
Designation - Data Privacy Head
Address - SJR Cyber Laskar, Hosur Rd, Adugodi, Bengaluru, Karnataka 560030
Contact - 1800 123 1272
Details about the Lending Service Provider and the Digital Loan Application
For the credit facility axio Pay Later, Razorpay Software Pvt. Ltd acts as the Lending Service Provider and services the users through axio application which acts as a Digital Loan Application, in partnership with CapFloat Financial Services Private Limited (axio) which is an NBFC registered with the Reserve Bank of India.