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LazyPay temporarily suspends 'Buy Now, Pay Later' service after RBI directive
short by Mansi Agarwal / on Thursday, 7 July, 2022
PayU-owned startup LazyPay has temporarily suspended its 'Buy Now, Pay Later (BNPL)' service named LazyPlus UPI. The suspension comes a month after RBI stated that non-bank wallets and pre-paid cards cannot extend credit lines via their products to customers. Through LazyPlus UPI, which was launched in 2020, the startup was offering a credit line of up to ₹1 lakh.
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