Amazon has rebranded its Gift Card balance to Amazon Pay balance which can be topped up with recharges of Rs 1,000, 2,000, 5,000, 9,000 and a custom amount. Essentially, gift card balance is the money equal to the value of the gift card price or what is left over when one makes a purchase with an Amazon gift card but does not utilise the complete value of the gift card. Amazon Pay can be loaded by credit and debit cards and net banking. The existing gift card balance will show up as Amazon Pay balance. With Pay, users can buy everything on the ecommerce website (currently over 6 crore items) except a set of items like Amazon gift cards, gold coins and bank cards among others it does not mention. The company claims that this will ensure faster checkout through single step payment and offer refunds for orders in 24 hours. It will offer exclusive discounts in case the user chooses to make a purchase with the payment method, but the discounts cannot be clubbed with other methods of payment. A user's gift card/Pay balance is visible in the "statements" tab. In one transaction, users can add between Rs 10 and Rs 10,000 but there’s no limit on the number of transactions. Amazon Pay balance is valid for 1 year and orders which were paid for by Pay will be refunded to Pay. In case the order is paid for partially by Pay and other digital methods, the refund will go to the…
