Fintech platform PayU which offers various financial services has recently announced that their credit service LazyPay has teamed up with Food delivery platform Zomato owned quick commerce brand Blinkit.

This vital collaboration will help the customer with an aim of providing a seamless, quick, and secure checkout experience.  This will ensure that, Blinkit’s extensive customer base get benefitted from LazyPay’s 1-tap payment system, enhancing its purchasing power and financial flexibility.

Incorporating LazyPay with Blinkit the users will get a streamlined digital payment process supported by a convenient credit line. It will not cost any additional fee to the merchants. The payment mode and dashboard of LazyPay will be accessible to Blinkit merchants, enabling them to monitor their business performance efficiently.

The digital payment platform LazyPay is available across all major quick-commerce platforms, including Zepto, Swiggy Instamart, and Big Basket.

The Head of Merchant Business at LazyPay, Niket Shrivastava said, “Our strategic partnerships with quick-commerce platforms aim to assist customers with their financing needs and enhance spending power. By integrating LazyPay’s advanced payment solutions with Blinkit’s platform, we enable customers to utilize their credit line through a seamless and secure platform."

He also added that, the collaboration is in perfect harmony with our goal of offering fast, dependable, and safe 'Pay Later' solutions, simplifying digital transactions, and they believe that working together will open up exciting opportunities for merchants and customers alike.

In 2017, PayU made its foray into the consumer credit sector by introducing LazyPay, an alternative lending platform that provides credit solutions at the time of purchase.

As of now, LazyPay boasts a user base of more than 3 million active consumers in India. Just recently, Prosus, the Dutch-listed subsidiary of Naspers and a prominent investor in PayU, announced that PayU's India revenue witnessed an 11% increase, reaching $444 million in FY24. This growth can be attributed to the significant contribution of its credit business.

Despite few challenges PayU’s was able to lift the revenue by 22% to $1.1 billion in FY24, driven by improved operating leverage and effective cost control. India is the largest market for digital payments pltformfor PayU, with peer-to-merchant digital payments volume expected to grow to over $3 trillion, and digital personal and consumer credit is estimated to reach $130 billion by FY30.

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