NEW DELHI: Eyeing small companies and their ecosystem, LazyPay, a Buy Now Pay Later (BNPL) resolution provided by PayU Finance, has introduced a partnership with Dukaan, an easy-to-use app that lets retailers create on-line shops. The partnership will supply BNPL resolution to small sellers and entrepreneurs throughout classes, enabling them to scale their operations. For end-users, this collaboration will enable a seamless checkout expertise for time-efficient transactions.
The collaboration is a testomony to LazyPay’s rising service provider ecosystem, signifying a robust demand for fast, handy, and hassle-free BNPL options. Since its introduction in 2017, LazyPay’s service provider ecosystem has grown multifold and right now stands at 46,000, as per the corporate.
Varun Vummidi, Payments Head, LazyPay, mentioned, “India is a booming financial system and SMBs (small companies) are contributing largely in the direction of progress. They have gotten ubiquitous with rising adoption of expertise. We are excited to companion with Dukaan as Buy Now Pay Later options improve alternatives for SMBs, permitting them to cater to a wider part of on-line prospects with a penchant for quicker and hassle-free purchasing expertise.”
For the mobile-first app, close to 60% of Dukaan’s merchants come from tier II and tier III markets. Integrating the BNPL solution into available payment modes will help storekeepers drum up sales and encourage first-time customers to become repeat customers. The partnership also has the potential to accelerate customer adoption through LazyPay’s strong user base. In addition to quick and seamless checkout experiences, Dukaan will also benefit from LazyPay’s near 100% transaction success rate.
Suryansh Kumar, VP Business, Dukaan, said, “Joining hands with LazyPay will be a catalyst to our business, by helping us add to our objective of providing the best services to our customers. We are looking forward to this collaboration.”
LazyPay extending its providers to SMB retailers is a strategic response to BNPL turning into one of many most well-liked fee choices in present instances. SMBs are thought-about the core of nation’s financial progress. According to an business report, expertise adoption in small companies has moved to 40% from 29%, publish pandmeic and will probably be characterised by digital transformation. Also, BNPL is prone to change into the quickest rising on-line fee choice with a 6% rise in market share from 3% to 9% in 2024, mentioned the agency.
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