New Delhi. Many companies in the country are offering the facility of ‘Buy Now Pay Later- BNPL’. This concept is becoming increasingly popular. Under this interest free loan facility, you buy any item and after a few days pay the price i.e. make repayment. In this episode, PayU Finance is also providing the facility of Buy Now Pay Later. The name of this service of the company is LazyPay. Now the company has launched LazyPay Card in partnership with SBM Bank of India and Visa.
The LazyPay card will be linked to a pre-approved credit line of the customers. Till now, customers were able to use the limit found in LazyPay only on partner websites. Now this limit can be used through LazyPay card at all online websites or merchant outlets that accept Visa cards. This Customers get 1 to 5 percent cashback on every transaction made through the card.
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Pay-later card issuing companies
With this offer, LazyPay has joined companies like Slice, Uni (UNI), Dhani (Dhani) which give Pay Later Cards to the customers.
Talking to Moneycontrol about the LazyPay card, Prashant Ranganathan, Chief Executive, PayU Finance said, “This is an extension of our BNPL offering. Initially, we will start with a 15-day repayment cycle but we will soon increase it to a 30-day cycle.”
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No interest will be charged for a period of 30 days
No interest will be charged from the customers for a period of 30 days. However, customers can pay the payment later in multiple installments along with additional interest charges.
Tags: Cashback Offers, credit card, Visa