Payments company PayU India will be investing $50 million in its product LazyPay over the next few years. Though the product has been in pilot since March 2017, the company is officially launching the service now. LazyPay is a premium deferral payment facility which will allow users to to purchase now and pay later. PayU acquired the product when it bought Citrus Pay for $130 million. Essentially, LazyPay will allow the company to become an underwriter of transactions and charge consumers on a fortnightly basis. The product is aimed at people who transact digitally in the range between Rs 500 and Rs 2,500. The credit facility could extend for amounts from Rs 3,000 and even up to Rs 10,000, depending upon customer behaviour. Note that this is offered only to select customers LazyPay pre-decides whether an online user is eligible. Users are selected based on a…
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