Home Business LazyPlus offers a Buy-Now-Pay-Later facility in India, credit limit upto 1 Lakh

LazyPlus offers a Buy-Now-Pay-Later facility in India, credit limit upto 1 Lakh

A unique and innovative revolving credit line by LazyPay, LazyPlus will enable credit access across India

MUMBAI: PayU Finance, India’s leading alternate lending platform, launched a first-of-its-kind digital revolving credit line called ‘LazyPlus‘ that combines the power of UPI and the Buy-Now-Pay-Later concept. The solution, part of the LazyPay offering, is a strategic response to the market’s demand for easy access to credit across online and offline platforms and bespoke pay-later options. Customers can set up their accounts using a 2-minute KYC process as the newly launched solution seamlessly integrates into the LazyPay app.

Image: pymnts.com

Hinged on the same principles of LazyPay, users do not have to go through the tedious process of linking their bank account(s) with UPI to access credit via LazyPlus. Based on the user’s credit history and payment behavior, LazyPlus will offer a credit limit (upto INR 1 lakh) to users for undertaking UPI transactions at stores (online & offline). LazyPlus enables users to access real-time credit using UPI across omnichannel networks, including offline merchants and e-commerce platforms.

Users of LazyPlus also have the option to make part-repayments in case they are unable to repay in a monthly billing cycle with its Revolve feature. This feature enables users to pay a Minimum Amount Due (MAD) and transfer the total outstanding amount to the next payment cycle, along with a standard interest rate.

Commenting on the launch of the new solution, Anup Agrawal, Business Head, LazyPay said, “Since its inception, LazyPay has always innovated to fulfill customers’ expectations, demands, and evolving needs. LazyPlus is a testament to our efforts in that direction. The solution enables transparent, frictionless, and accessible credit transactions to ease the financial complexities of our consumers. Additionally, as customers shift their preferred mode of transaction towards UPI, LazyPlus aims to offer a unique revolving credit line.”

The new solution is available for select LazyPay users, with plans of rolling it out to a wider customer base soon. With no minimum purchase-value requirement and a repayment cycle of 15-days, LazyPlus is offering an introductory zero-fee service for the initial phase of the product launch to its active users.

Also Read:  The street food vendors will be able to make online delivery like big restaurants: PM Modi
Also Read:  Reliance Jio Joins Hands with Google to Launch 5G in India Soon

(Syndicated from MediaWire, The Fame Publish staff is not involved in this content)

All articles published here are Syndicated/Partnered/Sponsored feed, FAMEPublish Staff may not have modified or edited the content body. The views and facts appearing in the articles do not reflect the opinions of FAMEPublish, also FAMEPublish does not assume any responsibility or liability for the same.

Most Popular

Kim Kardashian and Ashton Kutcher to boycott Instagram for 24-hours as part of Stop Hate for Profit movement

A group of celebrities, namely Kim Kardashian, Ashton Kutcher, and Katy Perry amongst others are set to participate in a 24-hour Instagram...

Innoviti Becomes India’s First Payments SaaS Company to Receive Coveted SOC3 Seal of Excellence for Adhering to Trust Services Principles

Innoviti announced today that it has been awarded the SOC Compliance Seal (SOC2 and SOC3 reports for uniPAYNEXT application) as per the...

Amazon India Expands Its Fulfilment Network in Telangana; Ahead of the Festive Season

Amazon India today announced the expansion of its fulfilment infrastructure in Telangana with 2 new fulfilment centres (FC) in Hyderabad. This expansion...

Rocking Superstar, YASH Picks EXCEED Entertainment for Bollywood Representation

Exceed Entertainment, the pioneering talent management company headquartered in Mumbai, is pleased to announce that they have been picked by rocking superstar and multiple...