In a fitting farewell to 2018, LazyPay, India’s popular credit platform has not only witnessed phenomenal success among consumers but has also forged partnerships with e-commerce giant, Flipkart & leading telco, Airtel. Through these partnerships, LazyPay users will be able to avail EMI option while checking out on Flipkart and they will also be able to recharge their Airtel mobile prepaid connection using ‘buy now pay later’ option on Airtel app. Since its launch in April 2017, LazyPay continues its upward growth and has seen 35% month-on-month growth.
The alternative lending platform was launched with the aim of offering convenience in the form of seamless checkout and improving affordability by providing instant credit to users including new to credit population. Through buy now pay later option the users can avail small ticket credit up to INR 30,000 for 15 days. LazyPay continues to see massive success among its 100+ merchants and growing consumer base which led to the LazyPay app crossing 1 Mn downloads during the year. Currently, LazyPay witnesses more than 1 Mn transactions per month. In 2018, PayU onboarded merchants for buy now pay later including Swiggy, Samsung, Croma, Oyo, ixigo, Airtel app, Bookmyshow, etc.
In August 2018, LazyPay also started offering personal loans instalment loans on merchant checkout. The platform now receives around 8000-9000 applications per day for personal loans. LazyPay has already disbursed about 6000 loans to its consumers.
Commenting on the fantastic year that has gone by, Pallav Jain, Head-Consumer Business, PayU India said, “We have seen a fabulous response for our platform since its launch and 2018 has been an exceptionally successful year. In a short time of one and a half year, more than a million customers are using LazyPay. Not only that, we have seen more than INR 200 crores worth of credit disbursals through us. I’m glad that our team is able to successfully serve our customers and merchant partners! We will continue to be innovative and address pain points of customers to make credit more accessible, convenient and faster.”