Following this announcement, the solution was designed in order to make high-value online purchases more affordable and accessible for clients across the region of India. By eliminating the need for a credit card, the product is also expected to offer a secure and hassle-free way for users to finance their purchases.
In addition, both companies will continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this initiative, customers will be given the possibility to finance purchases between USD 58.90 (INR 5,000) and USD 0.012 (INR 1) with flexible repayment options ranging from 3 to 12 months. This launch represents an important step in LazyPay's commitment to providing a streamlined checkout experience across a broader range of merchants and consumers.
At the same time, LazyPay currently aims to expand its reach in large ATS categories—such as travel, education, health, wellness, and insurance. The launch of LazyPay EMI with PayU Finance will also give LazyPay the possibility to cater to merchants by offering improved products and services, alongside the capability of unlocking new opportunities for both businesses and consumers alike.
Furthermore, the launch will enable merchants to offer affordable credit options directly at checkout, a process that aims to enhance the overall shopping experience for end users, driving higher conversion rates and boosting the Gross Merchandise Value (GMV).
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