Muristek
India is among the fastest-growing e-commerce economy. Made possible by close to half the population having access to the internet and smartphone. Ordering online, making cashless payments, easy credit and discounts are also proponents of this rising trend. Among the latest and smartest of these digitized payment facilities is Buy Now Pay Later in India. And LazyPay BNPL service is among the most popular ones.
It is a form of instalment payment feature on many e-commerce platforms to help customers who want to buy something now, but don’t have the cash on hand right away. Indians especially the Gen-Z are hopping on the bandwagon of BNPL for its convenience, speed and security for availing all sorts of services like food delivery, rides, shopping, entertainment, etc.
Avenues of using BNPL services like LazyPay is only growing every day in India. Let’s explore what are the most popular ones and how to make the most of them. But first some basics of BNPL:
What is BNPL
A type of unsecured loan in India Buy Now Pay Later is a payment feature adopted by various merchants to let customers finance their purchases with the option of having them make in instalments over time instead of all at once.
LazyPay BNPL service typically works in the following way:
1. Browse what you need from the associated merchants and opt for BNPL payment on checkout
2. Make only a partial payment of the item or service and it’s yours
3. For the rest of the amount, you’ll be specified dates and corresponding amounts to be paid (all adding up to the checkout price)
4. Make these payments with a card, UPI, online bank transfer, etc.
There is no interest on the partial payment. And you also get LayzPay exclusive offers on each purchase or transaction. Yes, it’s as simple and convenient as it sounds!
Now where all its Indian customers using its services.
Shopping
We are always window shopping online for something. But mostly wait to buy till the price drops or salary is credited. Now that the most popular and biggest of the e-commerce platforms in India like Flipkart and Amazon offer BNPL checkouts, it has become greatly feasible to actually buy all we need and desire.
Moreover, for LazyPay has tie-ups with these merchants you also get to avail the best discounts and deals on eligible purchases!
Dining
Whether it’s office lunch breaks or late-night cravings, before thinking of food many of us think of Zomato, Swiggy or other online food delivery platforms. And why not? They come with great many options and deliver quick. By allowing BNPL options, these merchants are also becoming more affordable as they expand to tier-2 cities in India.
Similar goes for when you visit a restaurant for a sit-in dining experience with family and friends. As services like LazyPay BNPL apps can also be used in physical stores, it makes for a great saver!
Riding
In non-professional scenarios, Indians are not known for punctuality. But we are known for being resourceful everywhere. Late for a date, office or travelling to hometown, on-demand ride services like OLA, Rapido and RedBus come in handy. What’s more convenient is that LazyPay and similar services offer the fare to be paid in instalments.
By extension, other trip and travel services like MakeMyTrip and ixigo are offering great discounts on their travel packages under their scheme for buy now pay later in India.
Learning
To learn is to grow. And to make learning more accessible and equal to Indians, several online education platforms are coming up with smart resources and tools. Leading this sector is Byju’s with its interactive and comprehensive study materials, educators, activities, etc.
By adopting bnpl method, these services are going a step further in making quality education more accessible and affordable to all classes of Indians.
Entertaining
At the end of the day, we all want to indulge and let loose. Watch our favourite show and transport ourselves to the other world (for a while). From a couple of channels to hundreds of OTT platforms led by the likes of Netflix, ALT Balaji, SONY Liv, etc. the Indian entertainment options have come a long way. Initially propelled by high-speed internet and now by their adoption of BNPL subscription.
Conclusion
By providing an easy and interest-free instalment payment option, Buy Now Pay Later in India is enabling many of us to do more and get more without much financial stress. In fact, by following the nest practices of repayment and purchase, it's making us more creditworthy. If you still haven’t got it yet, join the growing bandwagon of BNPL users in India with Lazypay (iOS or Android). The set-up takes minutes, is completely online and the offers are amazing!