Demand for convenient and digital payments has exponentially increased over time. People need a more efficient and time-saving alternative in this regard. This has given rise to BNPL or Buy Now Pay Later apps. Sounds interesting, right?

The BNPL or the Buy Now Pay Later scheme allows customers to purchase a product or avail of services without worrying about paying instantly. Instead, the financial service provider makes the payment, and the customers need to repay it in a set duration. Thus, the Buy Now Pay Later apps have contributed to higher consumer confidence by giving them the means to satisfy their needs with ease.

The BNPL service of LazyPay is financed by PayU. LazyPay has also partnered with SBM Bank to deepen their presence in the card payment segment. As a result, the finance provider service launched its LazyCard, a digital card experiencing rising popularity. The LazyCard offers a credit limit of INR 5 Lakh. This initiative promotes the empowerment of those with stunted financial freedom, offering them easy access to credit and convenience. The main target of LazyCard is the consumer who is underserved by traditional banks and financial institutions. Customers can opt for various products and services with this card. Moreover, there is no annual/joining fee charged by the Buy Now Pay Later service provider. Thus the LazyCard by LazyPay is one such BNPL card that is completely changing the game for its customers.

Knowing more about the advantages of using the LazyCard

The LazyCard has a robust reward structure with multiple offers and transactional benefits. They include welcome rewards, retention rewards, and even cash back, making it one of the most attractive BNPL cards at present. Customers also get an opportunity to get INR 500 flat cashback on their first transaction, and a chance to win up to 5% cashback on each transaction made with the card thereafter. The booster feature of the LazyCard enables users to easily access their fixed deposits with SBM Bank (RBI-regulated). Customers have the option to get a fixed deposit account for obtaining cashback rewards and enhancing their credit lines.

This unique feature will also help them improve their credit score after multiple transactions. In addition, it will also strengthen user eligibility for meeting future financial requirements.

Customers may use their LazyCards in physical and virtual avatars. It is made possible with the LazyPay app staying connected to the customer’s LazyCard. LazyPay has unveiled this card to enable digital payments and convenience for customers, especially in a scenario where reports state how just 3 out of 10 Indian citizens pay with their credit cards. The LazyCard is supported by Visa and will compete with various other service providers in this category. It is regarded as one of the fastest-growing financial service providers in India. The revolutionary prepaid credit card allows its customers to carry out all types of financial transactions. Those with a low bank balance can also avail of the services and use the card as much as they want. The LazyCard also offers many rewards to its customers.

Things that you can buy with LazyPay

Here are ten things that you can seamlessly buy with BNPL (buy now, pay later) cards such as LazyCard by LazyPay:

1. Clothing, shoes, accessories, and cosmetics.
2. You can book travel tickets for the metro, trains, buses, or even flights.
3. You can buy groceries daily, weekly, or monthly through the online payment method.
4. You can purchase movie tickets and enjoy watching your favourite flicks with your loved ones.
5. You can hang out with your friends at restaurants or cafes and pay using BNPL.
6. You can pay for your meals at restaurants or while partying at clubs or pubs.
7. You can send food to a loved one who stays far away by paying for it online.
8. With this payment method, you can also purchase handy gift items for your loved ones. In addition, you can also buy gift cards from several brands.
9. You can buy memberships of fitness centres, gymnasiums, clubs, stores and so on.
10. You can pay for a periodic makeover at the salon.

Lastly, what you can purchase depends on the card limit. Every BNPL card offers a different cash limit. During the Covid-19 lockdown, people shifted to making online payments for almost everything, further boosting the growth of the system in the country. As a result, the BNPL business has had a massive impact on the credit card space in the country.