INSUBCONTINENT EXCLUSIVE:
LazyPay EMI plans to directly onboard over 1,000 merchantsPayU-owned 'Buy Now Pay Later' (BNPL) provider, LazyPay, went live with 'LazyPay
EMI', where merchants can offer instant cardless equated monthly installments (EMI) option to consumers for a ticket size upto 1 lakh
LazyPay EMI is currently live on partner platforms such as Policyboss, Medvarsity, Learningbix, nexopay, among others.LazyPay is also
integrating with PayU payment gateway, to extend the BNPL solution to more than 3.5 lakh PayU-enabled merchants
LazyPay EMI will enable merchants to offer instant signup for credit to customers leading to quicker buying decisions and an increase in
sales.LazyPay EMI plans to directly onboard over 1,000 merchants across segments such as Edtech, insurance, EVs, home furnishing, and
The credit solution will empower over 60 million pre-approved users of LazyPay with the convenience of buying desired products or services,
both online and offline, without any delay, and pay later in small EMIs.LazyPay's entry into the BNPL affordability play will also allow
new-to-credit and non-credit card customers to sign up while shopping, get approved instantly and avail the benefit of splitting up the
payment as per their convenience.The BNPL provider uses analytics to understand customer's background and social footprint and get
insights on their purchasing behavior to determine their spending limit
The process is independent of a person's credit score and is more inclusive for new-to-credit consumers."Covid has globally changed
consumer preferences for credit, with millions of consumers opting for interest-free credit at checkout points on online platforms, and
In the next two years, we expect our Buy Now, Pay Later EMI product to be the largest contributor to the overall credit disbursals by
LazyPay,'' said Anup Agrawal, Business Head, LazyPay.The EMIs will range from 3-12 months, with zero to minimal interest
Customers can choose from various flexible repayment options, selecting the mode most convenient to them
By spreading the cost over months, consumers have efficient access to credit, they can manage their finances effectively without having to
compromise the instant gratification of making immediate purchases.
