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Frequently Asked Questions – Processing Fee on Merchant EMI

  1. What is Merchant EMI?
    StanChart Credit Card holders have the option of converting a purchase transaction into Equated Monthly Instalments (EMI) at retail outlets or e-commerce websites or e-commerce apps, commonly referred to as “Merchant EMI”.In case of retail purchases, one has to ask for this facility before swiping the card. In case of online purchases, one has to select the “Pay via EMI” option.
  2. What is the processing fee for Merchant EMI  being introduced?
    Effective February 19th, 2024, a one-time processing fee of 1% (plus applicable taxes) would be applicable for all Merchant EMI conversions. This fee will be over and above the interest charges for EMI conversion.

    Eg- If you make a purchase of INR 10,000 and convert it to EMI at the point of sale, you will be charged 1% of the transaction amount i.e. INR 100 (plus taxes) as a processing fee.
  3. Will I be charged processing fee for a no cost Merchant EMI transaction?
    Yes, processing fee will be charged for a no cost Merchant EMI transaction.
  4. When will the processing fee be effective from?
    Processing fee on Merchant EMI will be effective from February 19th, 2024.
  5. When will this fee get levied?
    The processing fee will be levied together with the first month’s EMI in your immediate next statement.

  6. How will I be communicated about the fees and charges along with Processing Fee while performing a merchant EMI transaction?
    Customers will be informed about the fee and charges on their merchant EMI transaction via:

    1. A charge slip, while performing an offline transaction through a retail outlet.
    2. The EMI conversion page, while doing the online Merchant EMI transaction through e-commerce websites or e-commerce apps.