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LazyPay Enables Instant Digital Credit Through UPI, Bharat QR

To avail this facility, it is mandatory for users to update their KYC on the app and have a pre-approved credit line with LazyPay.

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LazyPay, PayU India’s consumer lending platform and pay later option, has announced the launch of a revolutionary credit offering that allows users to access real-time credit across offline merchants and e-commerce platforms using UPI and Bharat QR Codes. Users can also avail short term credit and pay later in 15 days. By enabling instant digital credit through UPI and Bharat QR, LazyPay is now available both online and offline. 

To avail this facility, it is mandatory for users to update their KYC on the app and have a pre-approved credit line with LazyPay. On completing their registration through the app and successfully setting up LazyPay UPI handle, users will be able to carry out transactions at different merchants, online and offline and pay later. All they need to do is just click on scan and pay option on LazyPay app and scan the UPI or Bharat QR code at the merchant to make payments. Customers can also purchase on online websites using instant digital credit through the UPI VPA generated on the LazyPay app. The amount will be deducted from their pre-approved credit limit with LazyPay. This option can be used to order food at their favourite outlet, book travel tickets, pay for their daily cab rides, purchase groceries at their neighbourhood kirana store or buy the latest gadgets and more. There is no requirement for minimum purchase value for this service. 

The repayment process is flexible as the users can choose the pay later option that allows interest-free 15-day credit at checkout. Besides this, the users can also convert their high-value transactions in affordable monthly EMIs at the time of the transaction. 

Commenting on this development, Pallav Jain, Country Manager, PayU Finance said, “Enabling credit through UPI and Bharat QR is another significant step towards our vision to provide fast, convenient and seamless credit access to our customer base in India. It is a reflection of consumers' evolving shopping behaviour and our efforts to stay aligned with LazyPay customers through relevant offerings. It makes shopping more affordable for the consumers by allowing them to access credit seamlessly as part of the purchase and pay later at their convenience.” 

According to CIBIL TransUnion, personal loans have witnessed a growth of over 25 per cent in the past 2-3 years and the fourth quarter of FY18 it grew at 31.3 per cent. Aligned with this growth, LazyPay aims at driving credit penetration by providing financial solutions that are simple yet transparent, frictionless and accessible to all by offering ‘Credit Anytime Anywhere’.  

Launched in 2017 as 'buy now pay later' option at checkout, LazyPay has expanded its portfolio and has evolved into a full-fledged credit provider, offering EMI on online merchants and app-based instant personal loans. With this latest announcement of instant credit through UPI and Bharat QR, LazyPay will now go omnichannel. 


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LazyPay UPI Bharat QR kyc emi
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