Financial institutions are struggling to close the credit gap in India. The demand for digital, always-on, and personalised borrowing and spending services has surpassed the capabilities of banks relying on outdated legacy technology. Recognising the need for a digital-first credit solution to fuel India’s growth, PayU introduced LazyPay, a loan and Buy-Now-Pay-Later service.

To enhance the Lazypay experience, PayU wants to streamline real-time financial statement generation, simplify multi-account management, and build customised features.

Based in the Netherlands, PayU is a prominent payment provider serving multiple markets, including India. Offering a comprehensive suite of 100+ payment methods, PayU has become the preferred payment partner for major e-commerce and airline industry players.

Following its success in payments, PayU entered the credit market by building a personal loan and pay later service: Lazypay. Lazypay aims to bridge the innovation gap for SMEs, addressing a $5 trillion annual unmet credit need and offering stress-free loans. LazyPay's rapidly expanding solution enables customers to access interest-free loans at over 45,000 online merchants in India.

Following the successful migration of LazyPay’s products and customers to Vault Core, PayU’s visionary roadmap includes leveraging our Universal Product Engine to build and deploy innovative lending and credit products. Smart contracts will allow PayU to design highly personalised financial products at scale, addressing the distinct requirements of businesses and consumers with unparalleled precision.