Digital Payment Platform PayU collaborates with e-commerce giant Blinkit

Fintech PayU Platform offering a variety of financial services, recently announced that its credit service LazyPay has partnered with Zomato’s food delivery platform, fast commerce brand Blinkit.

This important collaboration will help the customer to ensure a smooth, fast and secure transaction. This will benefit Blinkit’s broad customer base LazyPay’a one-touch payment system that increases purchasing power and financial flexibility.

Inclusive LazyPay with Blinkit users will get a streamlined digital payment process supported by a convenient credit line. This will not involve any additional fees for merchants. The LazyPay payment mode and dashboard will be available to Blinkit merchants, allowing them to effectively monitor business performance.

This digital payment platform LazyPay is available on all major fast trading platforms including Zepto, Swiggy Instamart and Duży Koszyk.

Head of the Sales Department at ul LazyPay, Niket Srivastava said: “Our strategic partnerships with fast trading platforms are designed to help customers meet their financial needs and increase their purchasing power. By integrating LazyPay’s advanced payment solutions with the Blinkit platform, we enable customers to use their credit line through a seamless and secure platform.

He also added that the cooperation is in perfect harmony with our goal of offering fast, reliable and safe services. ‘Pay later’ solutions that simplify digital transactions and believe that the collaboration will open up exciting opportunities for both sellers and customers.

In 2017 PayU entered the consumer credit market by introducing LazyPayan alternative lending platform that provides credit solutions at the point of purchase.

At the moment, LazyPay boasts a user base of over 3 million active consumers in India. Recently, Prosus, a Dutch-listed subsidiary of Naspers and a major investor in PayU, announced that PayU’s revenue in India grew by 11% to $444 million in FY2024. This growth can be attributed to a significant contribution from the lending business.

Despite several challenges Payments was able to grow revenue by 22% to $1.1 billion in FY24, driven by improved operating leverage and effective cost control. India is the largest market for digital payment platforms PayUwith the volume of merchant-to-merchant digital payments expected to grow to over $3 trillion and the value of digital personal and consumer credit estimated at $130 billion by FY30.