LazyPay, a buy-now-pay-later resolution provided by PayU Finance, on Tuesday introduced the extension of its facility into the quickly rising q-commerce market by its partnership with 10-minute grocery supply platform Zepto, a Y-combinator-backed agency.
The partnership will supply shoppers the comfort of paying later for high-frequency purchases. LazyPay will present seamless checkout expertise to Zepto clients for time environment friendly transactions, including additional pace and ease to their immediate on-demand supply expertise.
The corporate mentioned, “With this partnership, LazyPay forays deeper into the hyperlocal/quick-commerce phase, additional strengthening its service provider base of over 38,000. Mixed with LazyPay’s quick adoption of Purchase Now Pay Later (BNPL) resolution, the partnership will redefine the grocery buying expertise for Zepto shoppers.”
As one of many quickest rising quick-commerce resolution suppliers, Zepto is including 100,000 new shoppers each week. The collaboration has potential to additional speed up buyer adoption of Zepto by LazyPay’s sturdy buyer base. Along with the fast checkout expertise, Zepto can even profit from LazyPay’s close to 100% success fee, decreasing cart abandonment situations. The BNPL fee choice shall be obtainable to Zepto clients throughout Delhi, Ghaziabad, Gurgaon, Noida, Mumbai, Pune, Kolkata, Bangalore, Chennai and Hyderabad.
Anup Agrawal, Enterprise Head, LazyPay mentioned, “On-line buying picked up quickly in India as a result of Covid-19. Nonetheless, because the state of affairs normalises, we’re seeing continued development traits and calls for from clients, as evidenced by the fast rise of the q-commerce phase. We’re very excited to companion with Zepto, given our shared goal for a handy and hassle-free buyer expertise. By means of this collaboration, we purpose to make high-frequency purchases easy, and we sit up for supporting Zepto scale back cart abandonment as a result of failed transactions.”
Commenting on the collaboration, Kaivalya Vohra, founder & CTO, Zepto mentioned, “Our collaboration with LazyPay will function a catalyst for technical innovation, guaranteeing a flawless ordering expertise for customers. We’re delighted about this collaboration and are trying ahead to offering a gratifying expertise for our customers.”
LazyPay’s onboarding by Zepto is a strategic response to BNPL turning into one of many most popular fee choices in present instances. In line with a report, the BNPL sector will rise to develop into the quickest rising on-line fee choice with a 6% rise in market share from 3% to 9% by 2024. Moreover, as per trade experiences, the q-commerce market is estimated to develop to $5 billion by 2025.
Supply: Live Mint