Launched by Amazon in 2007, Amazon Pay is the e-commerce platform’s e-wallet service. As with other e-wallets, Amazon Pay allows users to send and receive money by UPI. Therefore, you can use it to pay bills, scan QR codes, book tickets etc.
Also, you can transfer money from your Amazon Pay balance to your bank account. However, for this, you should have completed your Know Your Customer (KYC) verification. Here’s how to transfer the balance:
(1.) Go to the ‘Amazon Pay’ section on the app on your phone.
(2.) After clicking on ‘Send Money,’ select the ‘To Bank’ option.
(3.) After filling in details such as IFSC code, account number, account holder’s name, you have to tap ‘Pay Now.’
(4.) Tap ‘Continue’ after entering the amount to be transferred.
(5.) Under payment methods, select ‘Show More Ways’; here, select ‘Pay using Amazon Pay Balance.’
(6.) Tap ‘Continue’ to transfer the amount.
The verification is free, and here’s how to complete it:
1.) Go to your Amazon app, and tap ‘KYC’ under ‘Manage.’
(2.) Click a selfie and upload it, and verify Aadhaar card.
(3.) Finally, complete the process with a video call with an Amazon agent.