PayU’s LazyPay has announced a partnership with Blinkit, a prominent quick commerce platform under the Zomato umbrella. This collaboration aims to streamline checkout experiences for Blinkit’s customers by offering a convenient one-tap credit line, all without additional costs to merchants.
LazyPay, known for its innovative ‘Pay Later’ services, has previously integrated with platforms like Zepto, Instamart, and Big Basket, extending deferred payment options to their respective customer bases. With Blinkit now onboard, merchants will gain access to LazyPay’s robust payment infrastructure and analytics dashboard, empowering them to monitor and optimize their business performance effectively.
Niket Shrivastava, LazyPay’s head of merchant business, expressed confidence in the partnership, stating, “By integrating LazyPay’s advanced payment solutions with Blinkit’s platform, we enable customers to utilise their credit line through a seamless and secure platform. This partnership aligns perfectly with our mission to provide swift, reliable, and secure ‘Pay Later’ services, streamlining digital payments. We are confident that our collaboration will unlock new possibilities for both merchants and consumers alike.”
The latest move underscores PayU’s commitment to expanding its footprint in the fintech space, leveraging partnerships to enhance customer experiences and drive business growth.
In its recent financial update, Prosus, a leading investor in PayU, highlighted a 22% growth in PayU’s consolidated revenue to $1.1 billion in FY24. This growth was primarily driven by its payment service provider (PSP) businesses in Turkey and India, alongside the success of its credit offerings in the Indian market.
India remains a pivotal market for PayU, accounting for a significant portion of its core PSP revenues and total payment volumes. Despite regulatory challenges, the firm has managed to achieve strong revenue growth and improved profitability through operational efficiencies and effective cost management strategies.
With the LazyPay-Blinkit partnership set to enhance customer convenience and merchant capabilities in digital payments, PayU continues to innovate in the fintech sector, setting the stage for further expansion and market leadership.