axio

Axio: Pay Later and Cardless EMI for Indian ecommerce checkouts

Axio is a consumer credit platform that lets customers split purchases into easy installments at the point of sale. Axio is the brand identity of CapFloat Financial Services Private Limited, an RBI-registered NBFC that unified Capital Float, Walnut, and Walnut 369 into a single consumer finance platform in July 2022.

What is Axio

Axio offers embedded credit at checkout through Pay Later and cardless EMI options. Customers get a revolving credit line or instant loan offer and can repay next month or in equal monthly installments, typically in the 3 to 12 month range. That makes higher-ticket items more affordable without requiring a credit card. For merchants, the proposition is simple: you get paid, while Axio handles underwriting, credit disbursal, and collections.

Axio is also a long-standing partner behind major marketplace pay-later programs in India and has been in the news due to Amazon’s agreement to acquire the company in early 2025, subject to regulatory approvals. The deal follows years of commercial collaboration and investment. As a merchant, this context matters because it signals continued scale, distribution, and product maturity in the Indian BNPL space.

How Axio works at checkout

Axio embeds as a payment option during checkout. Eligible shoppers are shown a pay-later line or EMI plans. Once the plan is chosen and KYC is complete, Axio disburses the credit to the merchant and collects repayments from the customer over time. Axio supports autopay via e-NACH or UPI Autopay to simplify on-time repayment. For Amazon and Tata Pay Later programs supported by Axio, the experience and dashboards live inside those ecosystems, but underwriting and servicing are handled by Axio under NBFC rules.

If you already process with a major Indian PSP, you can often add Axio as a cardless EMI method through that PSP’s integration. For example, Razorpay documents Axio Cardless EMI as a payment method you can enable so customers can convert purchases into EMIs without a credit or debit card. This route is popular because it avoids bespoke integrations while accelerating time to market.

Key products and options

• Axio Pay Later. Instant credit at checkout with options to pay next month or convert to EMIs. Common tenure bands include 3, 6, 9, and 12 months. This is well suited for mid to high-ticket categories like electronics, travel, and lifestyle.

• Cardless EMI via PSPs. Offer Axio as an EMI method within a supported gateway or aggregator, giving installment flexibility without card rails. This typically appears alongside other EMI providers in your payment methods list.

• Marketplace programs powered by Axio. Axio underpins large-scale pay-later programs, which demonstrates operational readiness and risk capabilities at high volumes. Public reporting highlights millions of customers and thousands of merchants served.

Eligibility, KYC, and servicing highlights

Consumers must complete KYC to access Axio credit lines. PAN is mandatory, and auto-repayment can be set up during registration or the first purchase. Depending on the program, the credit facility may be fully funded by Axio or co-funded with a partner bank such as Karur Vysya Bank, which is reflected in the user’s credit bureau report. For merchants, the takeaway is that compliance, KYC, and lending operations are managed by an NBFC lender with optional co-lending structures.

Why merchants consider Axio

Lift conversion and AOV. Pay-later and EMI options reduce price shock, which can improve checkout conversion and increase average basket sizes. Industry guidance for BNPL consistently points to conversion and acceptance gains when the UX is streamlined and the finance offer is embedded at the right moment.

Acquire customers who lack credit cards. Card penetration remains uneven in India. Cardless EMI through Axio brings credit availability to customers who qualify for EMI but do not hold a card, expanding your total addressable market at checkout.

Operational simplicity. If you already work with a supported PSP, adding Axio can be a configuration task rather than a net-new build. Settlements still flow through your PSP, and Axio manages credit decisions and collections.

Signal of scale and backing. Axio’s rebrand from Capital Float, and its strategic relationship with Amazon culminating in an announced acquisition, indicate long-term commitment to embedded credit in India. For enterprise merchants, scale and continuity matter when choosing a financing partner.

Trade-offs and risk considerations

• Customer eligibility and declines. Credit lines depend on KYC and underwriting. Some customers will be declined or see lower limits initially. Clear messaging and alternate payment methods should remain available.

• Returns and cancellations. Cancellations generally follow the merchant’s policy; there is no special pay-later cancellation fee from Axio, but refunds are processed according to program rules. Coordinate closely with your PSP and Axio so your finance and support teams know the flows.

• Program variability. Tenures, limits, and fees can vary by program and partner. Clarify the specific UX and terms your store will offer, especially if you operate across multiple storefronts or categories.

Integration paths

1) Through a supported PSP or orchestration layer.
Many Indian merchants enable Axio via their existing gateway. Razorpay’s documentation shows Axio as an available Cardless EMI method that can be toggled on and configured with order-amount thresholds. This route is ideal when you want speed, unified reporting, and access control through your PSP dashboard.

2) Direct programs for marketplaces and large merchants.
Axio powers large pay-later programs embedded within major marketplaces. If you operate at scale, you can explore direct programs where the UX is deeply integrated and co-branded, with custom underwriting policies. This requires business development with Axio’s team.

Pricing and settlement

Axio does not publish a public fee schedule for merchants. Pricing is typically arranged via your PSP for Cardless EMI or negotiated on a program basis for direct integrations. Tenure length, product category, refund policy, and expected volumes often influence commercials. If you integrate through a PSP such as Razorpay, your MDR and per-transaction fees will include the Axio method according to the PSP’s terms.

Security, compliance, and governance

Axio operates as the brand of CapFloat Financial Services Private Limited, an NBFC in India. KYC, bureau reporting, and co-lending constructs are clearly described in Axio’s FAQs and program materials. Autopay options help keep delinquency low. As a merchant, you should ensure your privacy policy discloses the sharing of necessary checkout data with lending partners and that your customer support team understands how refunds and cancellations interact with EMI schedules.

Ideal use cases

• Mid to high-ticket retail. Electronics, appliances, and fashion benefit from installment flexibility that softens the upfront price tag.

• Travel and experiences. Staggering payments for trips and events can nudge hesitant customers to book sooner.

• Marketplaces and multi-brand platforms. Embedded pay later can align with on-platform financing programs to support varied price points and seller policies at scale.

Conclusion

Axio is a credible option for merchants who want to add BNPL and cardless EMI to Indian checkouts. It brings scale from marquee marketplace programs, maturing risk models, and an integration path that can be as simple as enabling a payment method within your PSP.