PayU’s fintech service LazyPay has extended its collaboration with quick commerce app Blinkit to enhance customer checkout experiences with a one-tap payment option.
In this expanded partnership, Blinkit users, backed by Zomato, can now leverage LazyPay’s credit services seamlessly at no additional cost to merchants. The integration allows Blinkit merchants access to LazyPay’s payment solutions and business analytics dashboard, facilitating streamlined operations and enhanced performance monitoring.
Niket Shrivastava, Head of Merchant Business at LazyPay, highlighted the strategic alignment of this partnership with LazyPay’s mission to provide efficient and secure ‘Pay Later’ services. He emphasized, “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.”
LazyPay, launched by Naspers-backed PayU in 2017, serves over 3 million active consumers in India with its point-of-sale credit solutions. The platform supports a growing ecosystem of quick commerce partners, including Zepto, Instamart, and Big Basket, all utilizing LazyPay’s deferred payment options to enhance transaction convenience.
Prosus, the Dutch-listed arm of Naspers, recently reported PayU’s robust performance in India, with an 11% revenue increase to $444 million in FY24. The credit business, a significant growth driver, saw a revenue surge of 29% to $107 million, despite adjustments in response to new regulatory frameworks from the Reserve Bank of India.
India remains pivotal for PayU’s digital payments strategy, with projections indicating substantial growth in peer-to-merchant digital transactions and consumer credit volumes by FY30.
